It has been clear of late that the ECB is one of, if not the most, determined G10 central banks when it comes to raising rates, tightening financial conditions, and attempting to bring inflation back under control. The battle against rampant inflation will continue at the February meeting, with another 50bps hike expected, as well as guidance accompanying the move that another such aggressive move is likely in March. {chart} Both such moves are full priced in by money markets, with the Governing Council having been resolute in guiding towards this relatively aggressive pace of tightening. A slew of speakers have ... (full story)