ECB's Nagel: Negative interest rates are a thing of the past

Asked about a 50 bps hike, Nagel said the important thing is to raise rates, the rest will be discussed at the governing council.

The July 27 ECB meeting is shaping up to be an interesting one, with the OIS market now pricing in -22 bps. That's a full 25 bps hike with a 12% chance of 50 bps.