ING Bank N.V.
June 30, 2026
Rates Spark: Too Early For The Doves
Rates StrategyCommoditiesMacro Economic IndicatorsRates Govt BondsEnergy
The report argues that the ECB is likely to maintain a hawkish bias despite a stabilization in oil prices near pre-war levels. It highlights that inflation uncertainty persists and expects at least one more rate hike.
Key Takeaways
- 1.The ECB is unlikely to make a dovish turn, maintaining a hawkish bias despite falling oil prices.
- 2.Recent oil price declines are viewed as potentially unstable due to supply-demand imbalances and pending reserve replenishment.
Table of Contents
- Rates Spark: Too early for the doves
- Tuesday's events and market view
- Author
- Disclaimer
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Authors
Michiel TukkerBenjamin Schroeder
Themes
Energy Market DynamicsMonetary Policy Normalization
Regions
EuropeMiddle EastFranceGermanyItaly
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