- ECB needs to normalise policy
- 50 bps rate hike should not be excluded if data in next few months suggests that inflation is broadening
He may be a hawk at heart but I think a 50 bps rate move would be a bit much, on the balance of things. I mean, this would mark the first rate hike by the ECB in over a decade. That pretty much tells you how set in stone their policy settings have been, so forgive me if I don't quite buy such a stark shift in mentality.
