# Markets still pricing in two more ECB rate hikes

> Markets are pricing in at least two more European Central Bank rate hikes despite a sharp drop in oil prices and an improving inflation outlook. ECB officials are expected to raise the deposit rate by a quarter point to 2.75% at their final meeting of 2026. Euro zone GDP rose 0.4% in the third quarter, more than many had predicted.

- Date: 2026-11-15 · published 2026-11-15T06:12:36.378Z
- Category: macro · region Europe · magnitude low
- Page: https://feedsoft.ai/events/100790-markets-still-pricing-in-two-more-ecb-rate-hikes
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Higher euro-zone rates tend to strengthen the euro, which weighs on EUR-denominated feed and oilseed import costs. The effect on grain and oilmeal prices is indirect and limited.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2023-02-02 | [ECB hikes rates, promises another 50 bps more in March](https://feedsoft.ai/events/37535-ecb-hikes-rates-promises-another-50-bps-more-in-march.md) | -1.7% | -2.9% |
| EURUSD | 2025-04-17 | [Markets see door wide open for more ECB rate cuts on tariff hit](https://feedsoft.ai/events/25335-markets-see-door-wide-open-for-more-ecb-rate-cuts-on-tariff-hit.md) | -0.3% | -1.5% |
| EURUSD | 2023-05-03 | [ECB slows rate hike pace but signals more to come](https://feedsoft.ai/events/36153-ecb-slows-rate-hike-pace-but-signals-more-to-come.md) | -0.4% | -3.1% |
| EURUSD | 2022-05-23 | [Dollar Vs. Euro: Greenback Hits One-Month Low As ECB Eyes Rate Hikes - Markets Insider](https://feedsoft.ai/events/41613-dollar-vs-euro-greenback-hits-one-month-low-as-ecb-eyes-rate-hikes-markets.md) | +1.4% | -0.1% |
| EURUSD | 2022-06-28 | [Euro dips as markets manage expectations of ECB rate hikes \| Reuters](https://feedsoft.ai/events/41157-euro-dips-as-markets-manage-expectations-of-ecb-rate-hikes-reuters.md) | -3.3% | -4.6% |

## Sources

- irishtimes.com: https://www.irishtimes.com/business/2026/11/15/markets-still-pricing-in-two-more-ecb-rate-hikes/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.