European Central Bank (ECB) policymaker Peter Kazimir said on Wednesday that his preferable option would be to raise the policy rate by 25 basis points at the policy meeting next week, perhaps for the last time, per Reuters.

"One option is to take a break in September and, if necessary, deliver another (hopefully final) increase by 25 basis points in October or December," Kazimir elaborated and noted that inflation remains stubbornly high, with price growth expectations holding "too far above 2%."

Market reaction

EUR/USD edged slightly higher following these comments and was last seen rising 0.23% on the day at 1.0745.