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ECB could outline rate hike plan for coming months in June – Müller

The European Central Bank should raise interest rates from record lows in July but could already outline its rate expectations for the coming months at its June 9 meeting, ECB policymaker Madis Müller said. With euro zone inflation at a record high 7.5%, nearly four times the ECB’s target, pressure is growing on the bank to claw back stimulus and several policymakers are pushing for faster “normalisation”, including the end of asset buys and rate hikes. In the first step, bond purchases need to end in early July, as stipulated by the bank’s guidance, but bringing this move forward is also possible, according to Müller, who is Estonia’s central bank governor.

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