Finland Central Bank head and ECB Governing Council Member Olli Rehn said in an interview with Daily Helsingin Sanomat on Thursday that it would be reasonable to expect a 25 bps rate hike in July, and for interest rates to reach zero in the Autumn. After that we could continue further normalising monetary policy gradually and proactively," Rehn said. 

Rehn's remarks come after ECB Chief Economist Philip Lane said earlier on Thursday that the exact timing of rate hikes is not the most important issue, reported Reuters. The ECB will move rates, not just once, but over time in a sequence, he noted.