The ECB hiked rates by 50 bps. Economists at Nordea think the ECB remains worried about the inflation picture and will continue hiking in the upcoming meetings.

Finally truly driven by incoming data

“The ECB hiked rates by 50 bps despite ongoing market turbulence. The uncertain market situation led to the ECB not giving any signals about the future – the central bank is finally truly in a data-dependent mode.”

“We think the ECB will continue hiking rates in upcoming meetings, likely favouring 25 bps steps going forward.”