Bundesbank head and European Central Bank (ECB) governing council member Joachim Nagel said on Friday that negative interest rates are a thing of the past, reported Reuters. In response to a question about whether the ECB might entertain a 50 bps rate hike in July, Nagel said that it is important to raise rates, with the rest to be discussed by the governing council.
Separately, Bank of France governor and fellow ECB governing council member Francois Villeroy de Galhau said on Friday that the ECB's short-term priority is fighting and mastering inflation, reported Reuters. The ECB will deliver in its fight against inflation, he continued.
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