One rate hike enough: ECB's Bini Smaghi

The European Central Bank (ECB) looks increasingly likely to raise rates just once in the coming months, after Lorenzo Bini Smaghi, a member of the institution's executive board, said a single 25 basis-point rate hike will suffice to bring inflation back to 2% in the medium term.

Bini Smaghi told Il Sole 24 Ore, an Italian newspaper, "In our view, given prevailing market conditions, such tightening, which I would see as significant, even if it's only 25 basis points, should be enough to bring