“Unless there is a dramatic escalation of conflict in Ukraine, the first hike may come towards the end of this year,” European Central Bank (ECB) policymaker and Slovak central bank Governor Peter Kazimir said while commenting on the growth outlook on Wednesday.

Meanwhile, ECB policymaker Madis Muller said “APP could end in Q3.” He also said that the “rate hike may come after that.”

Market reaction

On these above relatively hawkish comments from the ECB officials, EUR/USD is holding firmer above 1.1100.

At the time of writing, EUR/USD is trading at 1.1125, up 0.28% on the day.