- Inflation is becoming broad-based
- Cannot say that monetary policy cannot curb inflation pressures
That's Holzmann, Nagel, Kazaks, Knot, Villeroy and now Vasle to have been the more vocal parties in calling for quicker rate hikes. But perhaps the bigger shift has been the one by Rehn here. He is perceived as a bit of a dove so to be siding with the hawks, that perhaps signals a shift in thinking within the governing council.
The mood music has certainly benefited the euro so far today, with EUR/USD up 0.4% to 1.0580 currently.