Jefferies: The European Central Bank may only raise interest rates once

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Odaily Planet Daily News reports that Jefferies Global Economist Mohit Kumar stated in a report that the market has fully priced in the European Central Bank's interest rate hike of 25 basis points tonight, which will also be the only rate hike in this cycle by the ECB. The next possible rate hike window is in September, when new ECB staff forecasts will be released. In an optimistic scenario, the war may have already ended by then, and oil prices could be close to $80, which would reduce the need for further rate hikes. Even in a pessimistic scenario, with the war ongoing, oil prices approaching $100, and the European economy possibly near or in recession, the ECB would not continue to raise rates during a recession. (Jin10)
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