Image: Frank Rumpenhorst (German Press Agency GmbH)
Image: OeNB
The tenth consecutive interest rate hike decided by the European Central Bank (ECB) may not be the last if inflation in the euro zone remains too high. According to Bloomberg, ECB Council member and Austrian central bank governor Robert Holzmann said this on Saturday on the sidelines of an informal meeting of EU economic and finance ministers in Santiago de Compostela, Spain.
Image: OeNB
“We cannot say with certainty that this was the last increase,” Holzmann said. “The likelihood is not high, but there is a risk that further tightening may be necessary.”
Last Thursday, in the fight against high inflation, the ECB raised key interest rates at its interest rate meeting to the highest level since the start of the monetary union in 1999. The key interest rate rose from 4.25 to 4.50 percent.
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Source: Nachrichten
