ECBs Centeno is out with a comment which is a bit confusing. He says:
- Monetary policy in terms of fixing key rates is at maximum of this cycle
But he is now following that up by saying:
- Interest rates adjustment is still underway
- Interest rates historically are not high but they are rising fast
- ECB rates to remain high for some time after rate peak
- Rates should start to come down sometime in 2024
- We must be approaching in the terminal rate. If this is done in June or July, there is a very important condition that is inflation
There was an earlier report on Bloomberg that some ECB's sources said their could be a rate hike in September stretching out the expected rate hike timetable.