MNI BRIEF: ECB Set For May Hike, Size Data Dependent - Lane

Another European Central Bank interest rate hike in May looks likely, but, until all the relevant data is seen the scale of rise remains an ongoing debate, ECB chief economist Philip Lane said Tuesday.

"As of now, two weeks away, I think the baseline is we should indeed increase interest rates in May," Lane told Bloomberg TV, adding that he would "wait until we have the data" before deciding what to do.

In recent days, ECB officials have hinted that a 25 bp rate hike was probable, though some have suggested that 50 bp could be necessary if inflation data disappointed to the upside. However, a few policymakers, including Bank of Portugal Governor Mario Centeno said categorically it was time for a pause. (MNI INTERVIEW: Core Inflation Jump Needed For 50Bp-ECB's Simkus)