Vontobel: ECB hikes beyond Thursday would be deliberately restrictive
Vontobel’s Gregor Kapferer says additional ECB rate hikes after an expected Thursday increase would place policy into “restrictive territory.” He cites a 2.50% deposit rate versus a market view after a 25 basis-point hike on Thursday.
Additional European Central Bank rate increases after an expected move this week would amount to a deliberate shift into restrictive territory, Vontobel’s Gregor Kapferer said in a note. 50%, which markets expect after a 25 basis-point hike on Thursday, is generally…