Traders have fully priced in a 75 basis point rate hike by the European Central Bank this year.

CoinFeed reported on March 20 that traders have increased their bets on a European Central Bank (ECB) rate hike, expecting a 75 basis point increase this year, driven by inflation concerns fueled by rising energy prices. Swaps linked to the policy meeting date suggest a 79 basis point increase by the end of the year, up from 70 basis points on Thursday. Traders believe the first rate hike could happen as early as next month, with a 75% probability.