ECB’s Rehn: Raising rates may be needed in adverse scenario to maintain credibility

European Central Bank (ECB) official and Finnish Central Bank Governor Olli Rehn said that under adverse circumstances, it might be necessary to raise interest rates to maintain credibility, Reuters reported on Thursday. Key quotes No major shift in medium- to long-term inflation outlook. Wage growth continues to ease. We are heading toward a negative scenario. Raising rates may be needed in adverse scenario to maintain credibility. Market reaction At the press time, the EUR/USD pair is up 0.01% on the day to trade at 1.1625.