ECB faces inflation concerns amidst shifting economic landscape.
ECB policymaker Olli Rehn has said that the central bank must "carry on and act consistently" with interest rate hikes as it continues its efforts to tackle high inflation. The next rate decision will be "data dependent," particularly as it pertains to stubbornly high core inflation. The ECB has raised interest rates by 50 basis points at its last six consecutive policy meetings. However, Rehn said the moves have yet to have a significant impact.