Commerzbank: Rising oil prices likely to lock in ECB interest rate hike in September

Commerzbank interest rate strategist Rainer Guntermann stated that rising oil prices make it likely for the European Central Bank to raise interest rates again in September, and the market has fully priced in this expectation. European Central Bank President Lagarde may adopt a hawkish tone regarding inflation risks, but with increasing headwinds to economic growth, Lagarde is unlikely to commit early to a rate hike in September.