ECB's Villeroy: Timing of first hike depends on inflation

European Central Bank policymaker Francois Villeroy de Galhau is out on the newswires saying that the timing of the first ECB rate hike would depend on inflation and added that the earliest would be the summer of 2019.

Earlier today, the data released by the Eurostat showed that the annual core-CPI growth in the euro area eased to 0.9% in June from 1% in May.