Money markets see ECB rate climbing to zero by October

 from minus 0.5% currently. 

European government debt has been at the center of a historic selloff across global bond markets. 

Inflation that was already surging has been fanned further by the war in Ukraine, accelerating investors’ preparation for the end of ultra-accommodative monetary policy in the region. 

Bloomberg 30 mars 2022

https://www.bloomberg.com/news/articles/2022-03-30/europe-bond-traders-eye-end-of-negative-rates-as-inflation-jumps

Christine Lagarde “The longer the war lasts, the greater the costs are likely to be,” 

“The best way that monetary policy can navigate this uncertainty is to emphasize the principles of optionality, gradualism and flexibility,” Lagarde said.

Bloomberg 30 mars 2022 

https://www.bloomberg.com/news/articles/2022-03-30/ecb-s-lagarde-says-costs-of-war-increase-the-longer-it-lasts