UBS say that the rate hike from the ECB is likely to be its last for the cycle.
UBS analysts are not impressed with the European Central Bank, saying the Governing Council "is more focused on the present than the direction the economy is taking".
ICYMI:
- ECB raises key rates by 25 bps in September monetary policy meeting
- Lagarde: Rates will remain at sufficiently restrictive levels for as long as necessary
- Lagarde Q&A: Some governors would have preferred to pause and wait on more data
