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MNI BRIEF: ECB's Rehn Sees 25bps July Hike, 50 bps September

(MNI) London
(MNI) London

ECB likely to hike by 25 bps in July and a further 50 after the Summer break, Bank of Finland head Olli Rehn says Friday

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The European Central Bank will likely raise is benchmark deposit rate by 25 bps to -0.25% in July, Bank of Finland Governor Olli Rehn said Friday, adding that a further 50 bps, taking the rate to 0.25% would probably follow in September.

Speaking at a public event in Helsinki, Rehn, who also sits on the ECB's Governing Council, said the path of rate hikes after September would be dependent on the development of the eurozone economy and how the war in Ukraine was playing out

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The European Central Bank will likely raise is benchmark deposit rate by 25 bps to -0.25% in July, Bank of Finland Governor Olli Rehn said Friday, adding that a further 50 bps, taking the rate to 0.25% would probably follow in September.

Speaking at a public event in Helsinki, Rehn, who also sits on the ECB's Governing Council, said the path of rate hikes after September would be dependent on the development of the eurozone economy and how the war in Ukraine was playing out