European Central Bank
European Central Bank Member and Finnish Central Bank Governor Olli Rehn said the European Central Bank is likely to raise interest rates by 25 basis points at its next meeting next week.
Rehn also added that he expects the ECB to raise the pace of monetary policy tightening at its next meeting in September by 50 basis points.
In his statements, the policy maker of the European Central Bank touched on the current energy crisis, noting that he expected Italy to be the first political victim of the energy crisis, explaining that it would face very difficult times.
Markets are awaiting the release of the European Central Bank’s interest rate statement on Thursday of the week in which the bank will start imposing positive interest rates for the first time in years.