IMF says the European Central Bank may need to continue raising interest rates.

iCapital analyst Guillermo Santos Aramburo said in a note the ECB’s expected 25bp rate rise due Thursday is likely more symbolic than substantive, aimed at preserving the bank’s credibility in fighting inflation. He said the move will have limited market impact unless investors treat it as the start of a series of hikes — a scenario he views as unlikely — and that floating‑rate fixed‑income strategies should benefit.

WTI crude rose 1.0% intraday to $93.68/bbl.