That explained Robert Holzmanhead of the Oesterreichische Nationalbank (OeNB) yesterday, Wednesday, at the presentation for a conference in Vienna.
Interest rates must continue to rise to reach levels that are sufficiently restrictive, Holzmann said. This is necessary to return to the medium-term inflation target of two percent. In mid-December, the ECB raised the key interest rate by 0.5 percentage points to 2.5 percent. Further increases are planned.
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