ECB’s Kocher says cannot call June hike the baseline; “we decide meeting by meeting”; a 50bp hike in June is a very unlikely scenario from today’s perspective, Econostream reports

On timing of potential hike: “There are several meetings until the end of the year”. After a first hike, barring improvement, “my bias would be: one-and-watch”. If the ECB hikes in June, “September could be the natural next point,” but too soon to talk about now. Keeping rates unchanged until year-end is difficult absent price improvement. ECB must avoid both unnecessary hike and postponing necessary action.