April 27, 2026 - April 28, 2026, the price of '25 bps Increase' surged from 57.5c to 79.5c, while 'No change' plummeted from 41.5c to 14.5c. The reason is strong stickiness in late-April European economic and inflation data, prompting a rapid market sell-off of pause expectations and an all-in bet on a June rate hike.
April 16, 2026 - April 18, 2026, the price of '25 bps Increase' rebounded sharply from 25.5c to 38.5c, while 'No change' surged from 57c on Apr 16 to 68c on Apr 17 before pulling back slightly. The reason is mixed macroeconomic signals in April; signs of slowing economic growth counteracted previous inflation fears, leading markets to heavily reprice an ECB pause (No change), though sticky inflation continued to drive high volatility.
March 19, 2026 - March 20, 2026, the price of '25 bps Increase' surged from lows (approx. 20c) to 61c, while 'No change' plummeted. The reason is the ECB's March meeting, where despite holding rates, they significantly raised inflation forecasts, leading major banks like J.P. Morgan and Barclays to issue new calls for rate hikes in April or June due to the energy crisis.