Ed Hutchings: Market expectations for ECB rate hikes may be excessive

Ed Hutchings, Head of Developed Market Rates at Aviva Investors in London, said that the European Central Bank's top priority is currently to address the inflation environment. The market considers it reasonable to expect further interest rate hikes in the future, but with one rate hike already implemented and the market pricing in expectations of more than two rate hikes, market expectations may have gone too far.