European Central Bank Governing Council member Ante Zigman said he expects a high chance of another interest rate hike at the December meeting. His remarks were released in a Bloomberg report. He said inflation continues to rise in October, and that it is too early to say how much more tightening will be needed.
Market reaction muted
The comments drew little immediate reaction in the euro. EUR/USD was trading marginally lower near 1.1220 at the time of writing, according to MacroHerald’s own measurement as of 12:47 GMT on 5 November. The ECB main refinancing rate stood at 2.50 percent, in force since 4 November.
Zigman’s remarks point to a further tightening bias rather than a pause. The report did not say how large a move he has in mind.
Inflation the key driver
Zigman tied the outlook to the inflation data.
Related: Poland's Dąbrowski sees no need for rate hike for now · RBA lifts cash rate to 4.85%, fifth hike of 2026
Source: European Central Bank
