# ECB's Lagarde sees higher inflation; pushes back on rate-hike bets | Reuters

> ECB President Lagarde said higher energy prices, a mismatch between recovering demand and supply, and base effects from the end of a German sales tax cut were temporarily lifting euro zone inflation. Her comments pushed back against market bets on rate hikes.

- Date: 2021-10-28 · published 2021-10-28T12:00:00.000Z
- Category: macro · region Euro Zone · magnitude low
- Page: https://feedsoft.ai/events/7162-ecb-s-lagarde-sees-higher-inflation-pushes-back-on-rate-hike-bets-reuters
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

A less hawkish ECB weakens the euro against the dollar, which tends to lift dollar-denominated grain and meal prices in euro terms.

## Read by commodity

- EURUSD: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| EURUSD | 2021-10-29 | 1 | -1.1% | -4.4 | Lagarde's pushback on rate-hike bets and framing of inflation as temporary reduced ECB tightening expectations, weighing on the euro heading into the 29 Oct drop. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2021-11-16 | [Latest ECB rate-hike pushback turns euro into falling knife \| Reuters](https://feedsoft.ai/events/11948-latest-ecb-rate-hike-pushback-turns-euro-into-falling-knife-reuters.md) | -1.4% | -1.3% |
| EURUSD | 2023-03-15 | [Market bets on big ECB rate hike evaporate on renewed bank turmoil \| Reuters](https://feedsoft.ai/events/10076-market-bets-on-big-ecb-rate-hike-evaporate-on-renewed-bank-turmoil-reuters.md) | +0.4% | +1.7% |
| EURUSD | 2024-12-12 | [Dollar higher on fresh inflation data, euro lower after ECB rate cut](https://feedsoft.ai/events/27173-dollar-higher-on-fresh-inflation-data-euro-lower-after-ecb-rate-cut.md) | -0.4% | -2.6% |
| EURUSD | 2022-06-09 | [Stocks, euro slip as ECB sets rate hikes, CPI looms \| Reuters](https://feedsoft.ai/events/9634-stocks-euro-slip-as-ecb-sets-rate-hikes-cpi-looms-reuters.md) | -3.3% | -5.2% |
| EURUSD | 2023-07-27 | [Instant view: ECB lifts interest rates to highest since 2000 \| Reuters](https://feedsoft.ai/events/35245-instant-view-ecb-lifts-interest-rates-to-highest-since-2000-reuters.md) | -1.3% | -1.9% |

## Sources

- reuters.com: https://www.reuters.com/world/europe/ecb-push-back-over-mounting-rate-hike-expectations-2021-10-27/

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