On April 26, according to Econostream, ECB sources said that the risk of doing too little is still greater than the risk of doing too much, but the ECB is more likely to raise interest rates by 25 basis points in May rather than 50 basis points (Markets are currently pricing in a 70% chance of a 25bp rate hike by the ECB in May).
However, that will depend on whether there are any rather negative surprises in Eurozone inflation data for April.
The initial value of April CPI in major countries in the euro area will be released this Friday, and the April CPI data in the euro area will be released next Tuesday, which will largely provide a reference for the European Central Bank’s decision in May.