ECB’s might raise interest rates at current pace for a while – ECB’s de Guindos.
The European Central Bank may raise interest rates at its current pace for a “period of time” to curb inflation, said Vice-President Luis de Guindos.
“We have no choice but to act,” he said in an interview with Le Monde paper published on Thursday. “Increases of 50 basis points may become the new norm in the near term.”
“If we do nothing, the situation would be worse because inflation is one of the factors behind the current recession,”
The steps the ECB had taken so far were going to have an impact on inflation, “but we still need to do more”.
