ECB’s De Cos: Market expectations do not foresee a rate hike in 2023

The European Central Bank Governing Council member Pablo Hernandez de Cos was out with some comments in the last hour, saying that the recent reversal in bond yields highlights uncertainty. Market expectations do not foresee an interest rate hike in the Eurozone in 2023. Conclusion of FT report incompatible with ECB guidance, De Cos added further.

Market reaction

The shared currency moved little in reaction to the latest remarks. Meanwhile, the EUR/USD pair held on to its modest intraday gains near the 1.1775-80 region and remains at the mercy of the USD price dynamics.