ECB’s Holzmann Foresees Steep Rate Hikes to Stem Fast Inflation
The European Central Bank should increase interest rates by as much as 125 basis points by September if the inflation outlook doesn’t improve, according to Governing Council member Robert Holzmann. An initial July hike should be 50 basis points and an even larger move should be considered in September to pro-actively steer the economy toward calmer waters, Holzmann told the Kronen Zeitung newspaper in an interview published Saturday. “When the situation doesn’t improve, a 0.75 percentage point increase may eventually become necessary,” he was cited as saying. “The time has now come for clear rate steps
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