De Guindos (ECB)-Upcoming rate hikes dependent on data | Photo credits: European Central Bank
MADRID, Sept 19 (Reuters) – The exact number of further interest rate hikes by the European Central Bank (ECB) will depend on macroeconomic data available by then, the institution’s vice president said on Monday. Luis de Guindos.
After an initial increase of 50 basis points in July, the ECB raised its key rates by 75 points on September 8, specifying that it was planning further increases over the coming months to avoid an anchoring of inflation expectations.
“Monetary policy is still trying to fight inflation, this will impact consumer spending and business investment (..) and further interest rate hikes will depend on economic data,” Luis said. de Guindos at a conference in Madrid.
“Inflation is the worst evil for the people of Europe,” he added.
(Report Jesús Aguado and Emma Pinedo, French version Marc Angrand, edited by Sophie Louet)