Weekly Focus – Central Banks Remain in Focus as Rates Peak

<p>This week, the ECB delivered a 25bp hike which, combined with a dovish message, we see as a compromise in a stagflationary-ish environment. We were quite surprised by the limited optionality for further hikes in the statement, although Lagarde naturally refused to write off the possibility. We see the ECB&#8217;s approach now focusing much more [&#8230;]</p>
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