5/20, 3:49 PM (Source: TeleTrader)
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ECB's Nagel hints at rate hikes in quick succession

European Central Bank (ECB) Governing Council Member Joachim Nagel repeated on Friday that the bank could announce its first interest rate hike shortly after the end of asset purchases early in the third quarter, adding that "further rate hikes could then follow promptly."

The Bundesbank president stated that "negative interest rates are a thing of the past." However, he did not confirm the ECB will increase rates by 50 basis points, saying it is "important to raise rates" while the details are yet to be discussed.

Baha Breaking News (BBN) / DJ