European Central Bank (ECB) policymakers have warned of growing inflation risks, but have not called for tighter policy. This comes as brokerages have started anticipating rate hikes from as soon as April. Finnish central bank Governor Olli Rehn said policymakers need to separate short-term volatility from the longer-term impact. Financial markets now anticipate more than two rate hikes this year. However, not all are convinced by the ECB's dovish bias and the potential for higher key interest rates.