ECB’s Kocher: Next decisions will be either hike or hold
Von Sagar Dua
Aktualisiert: 1 Jul 2026
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European Central Bank (ECB) Governing Council member Martin Kocher said in the European trade on Wednesday that the next monetary policy move by the central bank will either be a hold or a hike, citing that higher wages could keep inflationary pressures elevated.
European Central Bank (ECB) Governing Council member Martin Kocher said in the European trade on Wednesday that the next monetary policy move by the central bank will either be a hold or a hike, citing that higher wages could keep inflationary pressures elevated.
Additional Remarks
Wage deals could keep inflation elevated.
Inflation threat lower, not completely contained.
Market reaction
No immediate reaction was observed in the Euro (EUR) after ECB Kocher's comments. At press time, EUR/USD trades 0.22% lower at around 1.1395.
Kocher flags wage risks as ECB keeps hike option alive
FXS Speechtracker shows Kocher’s latest score at 7.1, notably above the historic average of 5.9, signaling a more hawkish tone than usual. The warning that wage deals could keep inflation elevated and that the next decisions will be either hike or hold underscores a clear bias against early easing, supporting a firmer Euro backdrop.
By stating that the inflation threat is lower but not completely contained, Kocher reinforces the case for keeping restrictive policy on the table. This combination of wage vigilance and a live hike option suggests upside risks for Euro rates and limits downside for the Euro in the near term.
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