Traders Fully Price Three Quarter-Point ECB Rate Hikes This Year

Traders boosted wagers on European Central Bank interest-rate hikes, fully pricing three quarter-point increases this year as rising energy prices fueled inflation worries.

Swaps tied to policy meeting dates implied 79 basis points of hikes by year-end, up from 70 basis points on Thursday. Traders assign a 75% chance of the first increase coming as soon as next month.