The European Central Bank (ECB) will at least need two more rate hikes of 25 basis points in June and July, and should be ready to raise rates further if inflation stays too high, ECB governing council member Klaas Knot said on Wednesday.

"I expect two rate hikes in June and July," Knot said in a hearing in Dutch parliament.

"After that, the picture is unclear. In an optimistic scenario we will have done enough by then. But there are many upward risks that could possibly force us to raise rates further. I would not hesitate to do so if needed." (Reporting by Bart Meijer; Editing by Toby Chopra)