ECB kazimir

The ECB's Kazimir laid out a path to hike 25 bps next month and another 50 bps in September. He said the main refi rate could be at 1.50-2.00% in a year. He also warned that some eurozone countries could face short recessions.

I would mark this down as flimsy guidance and he himself cited data dependency.

Economic data is rapidly deteriorating and I think the ECB and others will soon be more-worried about that.