ECB Governing Council member Qigeman said a December rate hike is quite likely after October inflation continued to rise, signalling the ECB may move next month; such a step would be the third increase since the Iran war began. He echoed a colleague’s view that a December hike is possible if economic conditions remain unchanged and said the ECB could raise the deposit rate by 25bp at its final 2026 meeting, but declined to judge whether further tightening will be needed in 2027. Qigeman also not

ECB Governing Council member Qigeman said a December rate hike is quite likely after October inflation continued to rise, signalling the ECB may move next month; such a step would be the third increase since the Iran war began. He echoed a colleague’s view that a December hike is possible if economic conditions remain unchanged and said the ECB could raise the deposit rate by 25bp at its final 2026 meeting, but declined to judge whether further tightening will be needed in 2027. Qigeman also noted the energy outlook has improved since the Democrats’ midterm win; oil has fallen nearly 20% in recent days, though he said the durability of that decline and the future path of energy prices remain uncertain.