Citing sources familiar with the matter, Reuters reported on Friday that some European Central Bank (ECB) policymakers want to discuss a 75 basis points (bps) rate hike next month due to a deterioration in the inflation outlook.

The looming eurozone recession should not slow or halt the ECB's policy normalisation, sources further told Reuters.

Market reaction

This headline seems to be providing a boost to the shared currency. As of writing, the EUR/USD pair was up 0.95% on a daily basis at 1.0067.