ECB's Kocher says ECB is to consider hikes in the next months if there is no improvement; ECB is in data-dependent meeting-by-meeting mode

The ECB's Kocher highlighting a potential for rate hikes in the coming months signals a shift towards a hawkish stance if economic data does not improve. This reaffirms the market's focus on data dependency for future meetings and could lead to increased volatility in the euro and fixed income markets as traders reassess the rate path and risk sentiment.