ECB's Holzmann: There is a case for rate hike if no surprises turn up

<ul><li>Not in the clear yet on inflation</li><li>ECB is behind the curve, can assess policy once at 4%</li><li>Should start debate on ending PEPP reinvestments</li></ul><p>He looks to be trying to push for it but it is quite evident that not all ECB policymakers are sharing this view. In terms of market pricing, it's pretty much a coin flip for September at this stage. The odds of a 25 bps rate hike are pinned at around 45% currently, with the remainder 55% pricing in no rate hike for next month.</p>

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