ECB’s Rehn: There is a case for frontloading the tightening cycle

European Central Bank (ECB) Governing Council member Olli Rehn said on Friday, “there is a case for frontloading the tightening cycle.”

More comments

Risks to inflation outlook primarily to upside.

I assume further rate hikes going forward.

There is growing risk of recession in the Eurozone.

There is a case for frontloading the tightening cycle.

Market reaction

Amid risk aversion at full steam and notable US dollar demand, EUR/USD shrugs off the hawkish ECB commentary. The spot is losing 0.35% on the day to trade at 0.9963, as of writing.