ECB's Wunsch tells Econostream that the case for further tightening is receding and any surprise in EZ inflation before the July meeting is more likely to be on the downside,
- Would need stronger second-round effects to justify further tightening.
- One hike could suffice if shock fades before significant second-round effects.
- More than one hike to depend on more persistence and stronger second-round effects.
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