Case for further ECB rate hike has 'weakened after spike in bond yields' 

Governor of the Bank of France Francois Villeroy

European Central Bank (ECB) policymaker Francois Villeroy de Galhau has said that the case against a further interest rate hike has strengthened after long-term bond yields spiked higher. 

The ECB raised its main interest rate last month to a record 4% after 10 successive hikes aimed at bringing inflation back to its 2% target by 2025.