ECB's de Cos: We will hike rates again in July, not possible to say what comes after that

<ul><li>Core inflation is more resistant than expected</li><li>We still have ground to cover</li><li>We will raise interest rates again in July</li><li>Not possible to say what we will do afterwards</li></ul><p>They have pretty much pre-committed to a rate hike already next month, so there's no backing down from that. But the PMI data today will certainly increase the debate about a September rate hike, especially if the trend continues into the summer.</p>

This article was written by Justin Low at www.forexlive.com.