[ECB Governing Council Member Rehn Says Rate Hikes Are Not Set in Stone] ECB Governing Council member Olli Rehn stated, 'Rate hikes are not inevitable.' Rehn said during a live-streamed interview with Finnish business media Kauppalehti on Wednesday: 'Our stance needs to remain calm, carefully assessing the medium-term impact of the energy shock.' 'It largely depends on how long this severe energy shock lasts. If it only lasts a few months, the textbook answer would be to let it run its course and keep monetary policy unchanged.' 'But if it raises inflation expectations and triggers second-round effects on prices and wages, then monetary policy will clearly need to respond to keep expectations within the ECB's 2% target range.' (Sina Finance)