Comments from the Dutch central bank President:
- ECB very vigilant on possible second round effects
- ECB likely to have more info on second-round effects in April, but data will be limited
More than any other central bank, the ECB has made a hawkish pivot in the wake of the energy price spike. That's awfully reminiscent of 2007 and Trichet's missteps.
The market is now priced at 60% for an April hike and a total of 65 bps this year.
