ECB’s Holzmann backs 75 bps rate hike in December – FT

In an interview with the Financial Times (FT) on Tuesday, European Central Bank (ECB) policymaker Robert Holzmann supported calls for a third straight 75 basis points (bps) rate increase for the December monetary policy meeting.

Additional quotes

“Do not “see signs of core inflation reducing” in the Eurozone.”

“Expect a mild recession.”

Market reaction

The Euro is unimpressed by the hawkish comments from the European Central Bank policymaker, as EUR/USD continues to struggle at around 1.0250, up 0.11% so far.