Richard Carter, head of fixed-income research at Quilter Cheviot, said markets
are pricing an ECB rate hike at the September meeting, but delivery largely
depends on developments in the Middle East and timing of any substantive
resolution. If no near-term settlement materializes, energy costs and upward
pressure on inf would likely intensify, which could force policymakers to
tighten again; he sees the chance that other major central banks will follow as
unlikely for now.
