Advertisement
Advertisement

ECB’s Rehn calls for July rate hike

By:
Reuters
Updated: May 5, 2022, 14:37 UTC

HELSINKI (Reuters) - The European Central Bank should hike its deposit rate in July by 0.25 percentage points, the ECB's policy maker Olli Rehn told a Finnish daily on Thursday.

Finland's central bank governor Rehn in Helsinki

HELSINKI (Reuters) -The European Central Bank should hike its deposit rate in July by 0.25 percentage points, the ECB’s policy maker Olli Rehn told a Finnish daily on Thursday.

Rehn added the rate would be zero by autumn. It is currently at minus 0.50%.

“After that we could continue further normalising monetary policy gradually and proactively,” he told Finland’s largest daily Helsingin Sanomat in an interview.

Rehn said inflation outlook is very different in the euro zone than in the U.S, where the Federal Reserve raised its benchmark overnight interest rate by 0.5 percentage points on Wednesday.

(Reporting by Anne Kauranen and Essi Lehto; Editing by Toby Chopra)

About the Author

Reuterscontributor

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV. Learn more about Thomson Reuters products:

Did you find this article useful?

Advertisement