Citing Eurosystem sources, MNI reported on Monday that the European Central Bank (ECB) was most likely to raise key rates once or twice more in this tightening cycle.

According to MNI, the majority of the ECB Governing Council still sees it unlikely for the policy rate to reach 4%.

Market reaction

Thie headline doesn't seem to be having a noticeable impact on the Euro's performance against its major rivals. As of writing, the EUR/USD pair was trading at 1.0880, where it was up 0.3% on a daily basis.