ECB's Kazimir: Sees clear need for a 50 bps rate hike in September

Slovakian central bank head and European Central Bank (ECB) Governing Council member Peter Kazimir on Monday said that he sees a clear need for a 50 bps rate hike in September, reported Bloomberg. Kazimir continued that he wants to see the ECB get interest rates to positive territory this Autumn and that he sees weak growth continuing for several weeks. Kazimir noted that gradual ECB tightening would begin in July with a 25 bps rate hike, which is what ECB President Christine Lagarde signalled at last week's policy announcement.