July 25 (Reuters) – The European Central Bank (ECB) may not be done with steep interest rate hikes after raising key rates by half a point last week, Martins Kazaks said. one of the members of the Board of Governors.
“I would say that the rate hike in September must also be quite significant,” he said in an interview with Bloomberg published on Monday.
Asked about the possibility of a three-quarter point rate hike, Martins Kazaks urged ECB officials to “keep an open mind”.
The central bank raised interest rates last Thursday for the first time in 11 years, at a faster pace than expected, as inflation fears outweighed risks of a deterioration in the economy even as the euro zone economy is already suffering the consequences of the war in Ukraine. (Report Akriti Sharma in Bangalore, French version Laetitia Volga, edited by Kate Entringer)
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