{"id":433755,"date":"2026-07-15T12:14:50","date_gmt":"2026-07-15T05:14:50","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/ecb-policymaker-kocher-says-ready-to-take-monetary-policy-action-at-any-time-if-needed-433755\/"},"modified":"2026-07-15T12:14:50","modified_gmt":"2026-07-15T05:14:50","slug":"ecb-policymaker-kocher-says-ready-to-take-monetary-policy-action-at-any-time-if-needed","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/ecb-policymaker-kocher-says-ready-to-take-monetary-policy-action-at-any-time-if-needed-433755\/","title":{"rendered":"ECB policymaker Kocher says ready to take monetary policy action at any time if needed"},"content":{"rendered":"<div>\n<ul>\n<li>Ready to take monetary policy action at any time if needed<\/li>\n<li>ECB will do what is needed to bring inflation to 2% in the medium-term<\/li>\n<li>No second round effects seen currently<\/li>\n<\/ul>\n<p style=\"text-align: justify\" class=\"text-align-justify\">The remarks above aren&#8217;t anything new. The ECB continues to play for optionality but they have made it clear that they won&#8217;t be taking any policy action in July. As such, they are reaffirming that there is no pressure from second round effects in forcing their hand just before the summer break.<\/p>\n<p style=\"text-align: justify\" class=\"text-align-justify\">The softer inflation numbers for June help to corroborate with that story at least. And that is affording policymakers some added flexibility and comfort in making such a decision.<\/p>\n<p style=\"text-align: justify\" class=\"text-align-justify\">As for September, it&#8217;s a whole different story. Traders are currently pricing in a full 25 bps rate hike by then with ~42 bps of rate hikes priced by year-end. The fact that the US-Iran conflict is heating up again isn&#8217;t doing policymakers any favours in fueling the inflation fire for the second-half of the year now.<\/p>\n<p style=\"text-align: justify\" class=\"text-align-justify\">And all of that is also reflected in higher oil prices again as of late as well as higher bond yields. 10-year yields in Germany moved up to a high of 3.11% yesterday, the highest since end-May. For some context, it fell to as low as 2.83% at the end of June at one point.<\/p>\n<p style=\"text-align: justify\" class=\"text-align-justify\">\n<p>                            This article was written by Justin Low at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ready to take monetary policy action at any time if needed ECB will do what is needed to bring inflation to 2% in the medium-term No second round effects seen currently The&hellip;<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-433755","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/433755","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=433755"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/433755\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=433755"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=433755"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=433755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}