ECB’s Knot: Rate hikes beyond July likely but not certain

European Central Bank (ECB) Governing Council member Klaas Knot said on Tuesday, rate hikes beyond July are likely but not certain.

Additional quotes

It looks like core inflation has plateaued.

We need to hike rates in July.

Optimistic to see inflation reaching 2% in 2024.

There is still lots of data due between now and September.

Market reaction

At the time of writing, EUR/USD is losing the upside traction, paring back gains to trade near 1.1240.