Is the ECB Ready to Join the Rate Hike Party?

With the Bank of England raising interest rates for the second time on Thursday and the Fed likely to hike rates at its March meeting, the outlier has been the ECB. Regarding the latter, President LaGarde has continued to espouse that inflation is likely to be transitory and in December indicated that rates would stay unchanged during 2022.Well, while it is too early to say the ECB will join the monetary tightening and rate hike party, there seemed to be cracks in her dovish armor at the press conference following the decision to keep rates unchanged. It almost felt like LaGarde was fearful of melting as she acknowledged that inflation risks were tilted upwards and changed her tune by saying that she would not commit to a change in in