ECB plans to hike by 50 bps despite SVB collapse – MNI

Eren Sengezer FXStreet

Citing eurosystem sources, MNI reported on Monday that the European Central Bank was planning to go ahead with the 50 basis points (bps) rate hike at its upcoming meeting despite sliding market rate expectations amid Silicon Bank Valley turmoil.

MNI further explained that dovish policymakers were likely to argue that the changing economic environment would warrant more caution in regard to policy tightening.

Reporting on the same matter, Bloomberg said that the ECB's intention to go for big rate hikes is set to meet stronger opposition from policymakers.

Market reaction

EUR/USD showed no immediate reaction to this headline and was last seen rising 0.8% on a daily basis at 1.0725.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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