ECB's Holzmann: 50 bps rate hike in July appropriate, inflation to remain above 2.0% in 2023/24

Hawkish leaning European Central Bank governing council member Robert Holzmann said on Tuesday that a 50 bps rate hike in July would be appropriate and that ending the year with interest rates in positive territory is extremely important, reported Reuters. Euro-area inflation is set to remain above 2.0% in 2023 and 2024, he added, noting that the ECB's strict forward guidance on rates no longer makes sense.