Europe | Front loading and more hikes to come

Summary

In the face of recent very high inflation out-turns and risks skewed to the upside, the ECB unanimously hiked each of its three key interest rates by 75 bps. Overall, today’s stance confirm’s ECB’s hawkish bias communicated at the end of the summer and everything points to continued rapid rate rises

Key points

• Key points:
• The ECB raised its three key interest rates by 75 bps each
• More hikes in store through a meeting-by-meeting and data dependent approach
• Inflation revised significantly up and growth to the downside

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