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Should continue with 50bp rate hikes – Crypto News
European Central Bank (ECB) policymaker Gediminas Simkus said on Tuesday that the ECB should continue with 50 basis points (bps) rate hikes amid rising wage pressures, as reported by Bloomberg.
Simkus further added that reaching the peak policy rate before summer ‘may be unlikely’ and noted that strong core inflation shows that their battle against inflation is not over yet.
Market response
EUR/USD edged slightly higher with the initial reaction to these comments and was last seen posting small daily gains at 1.0875.
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