- ECB’s Makhlouf: A further rate hike is possible
Market news
21 September 2023
ECB’s Makhlouf: A further rate hike is possible
In an interview with an Irish newspaper on Thursday, European Central Bank (ECB) policymaker Gabriel Makhlouf said that “a further rate hike is possible.”
Additional comments
There's little chance of a rate cut before March.
We are not saying that at the next meeting we will hold.
If inflation stays the same, rates may not have to rise.
ECB rates could just stay where they are for longer.
Market reaction
EUR/USD seems to be finding fresh demand on the hawkish comments, recovering to 1.0640, still down 0.18% on the day.
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