ECB Governing Council member Pierre Wunsch said that a US-Iran peace deal ahead of the upcoming meeting would not weaken the case for a rate hike, signaling support for a 25bp increase. He stressed that policy makers need to take a stance and not let markets bear everything.
European Central Bank Governing Council member Pierre Wunsch said ahead of the June meeting that even a US-Iran peace deal reached before the meeting would not undermine the case for a rate hike. “If there is indeed a peace deal on the eve of the meeting, it will be part of the discussion. But we can't know if it is durable or credible,” Wunsch stated, hinting at his support for a 25 basis point hike.
Wunsch elaborated that without a resolution to the conflict, the discussion among policymakers before setting rates on June 11 “will be quite easy.” With a peace deal, it “could be a little less easy, but the case for a rate hike may still exist, just not as strong.” He stressed: “At some point, we can't let the market bear everything. We need to take a stance.”
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