ECB's de Cos: Forward guidance does not support market view on rate hikes next year

Further remarks by de Cos

• ECB forward guidance does not support market view of first rate hike in Q3 2022 nor any time soon afterwards

The rates market has already pulled back on that earlier today with a 10 bps rate hike now priced in for December 2022 instead (from October 2022 earlier) but even that is also something the ECB will surely seek to push back on.