ECB to Begin Recalibration Phase with June Rate Hike – Nomura

Nomura's Andrzej Szczepaniak and team have projected that the European Central Bank (ECB) will initiate a recalibration phase at its June 11 meeting. They anticipate a 25 basis point increase in the deposit rate, marking the beginning of a new policy stance.

The move is seen as the first step in adjusting the ECB's monetary policy framework, with further details expected as the meeting approaches. The recalibration phase signals a shift from the current rate trajectory.