European Central Bank signals interest rate hike as inflation beats expectations

2022-05-24 0 By

Beijing Business Daily news (reporter Yang Yuehan practice reporter Meng Yue) 6 local time, the European Central Bank governing Board Klaas Nott said that the European Central Bank will raise interest rates in the fourth quarter of this year.In an interview with Dutch television, Mr Noether also said he supported a quick end to the ECB’s asset purchase programme.”My personal view is that our first rate hike will happen around the fourth quarter of this year.Normally we would raise rates by 25 basis points and I have no reason to expect that we would do anything different.”He added that the first rate hike could be followed by a second hike in the first quarter of 2023.Earlier, European Central Bank President Christine Lagarde also said on Wednesday that she would not rule out the possibility of raising interest rates in 2022.”We will continue to follow the sequence we have agreed upon as we take any decisions step by step,” she said.Inflation in the Netherlands reached 7.6% in January, its highest level since 1997.In the eurozone, inflation also rose to 5.1 per cent, more than double the ECB’s 2 per cent target.Disclaimer: This article is reproduced for the purpose of conveying more information.If the source is wrong or violated your legitimate rights and interests, please contact the author with proof of ownership, we will promptly correct, delete, thank you.Email address: newmedia@xxcb.cn