A September European Central Bank rate hike now appears almost locked in

<p>A rate hike at the July 22 meeting is a done deal, but officials from the ECB have been sowing doubt over a September rate hike.</p><p>Markets are much more sure on a September hike though, with the chances rising consistently.</p><p>This graph of how expectations for the September meeting have evolved over
the last few months is via Reuters:</p><p>The depo facility rate is currently 3.5%. </p><p>A 25bp rate hike in July and then September will take it to 4%. </p><p>ps. European Central Bank President Lagarde is speaking today, Friday, 23 June 2023, at 0700 GMT, which is 0300 US Eastern time. </p>

This article was written by Eamonn Sheridan at www.forexlive.com.