 We must stay the course in battle against inflationCannot say where the terminal rate will be but should be there by the summerECB is pragmatic regarding rates and policyThe pace of rate hikes is probably less important this yearLagardes earlier 50 bps guidance is still validA bit of pushback by Villeroy but his comment on the importance of the pace of rate hikes is a bit subjective. To markets, that is... 