ECB's Rehn: ECB likely to raise key rate by 25 bps next week

The European Central Bank's Governing Council will likely raise its key interest rate by 0.25 percentage points next week and 0.5 percentage points in September, ECB Governing Council member Olli Rehn said on Friday, as reported by Reuters.

This comment is in line with a recently conducted Reuters poll on the ECB's rate outlook.

Reuters Poll: ECB forecast to raise deposit rate by 25 basis points in July.

Market reaction

The shared currency showed no immediate reaction to this comment and the EUR/USD pair was last seen rising 0.2% on a daily basis at 1.0040.