ECB judges the need for an additional 0.5% rate hike based on economic conditions = Director

 

European Central Bank (ECB) hawkish member Holtzmann Austrian central bank governor said on the 24th that the ECB will score 0.5 percentage points at the September board meeting, taking into account economic conditions. He said he would decide whether to raise rates again.

At the same time as rising inflation, he said it was necessary to deal with the economic downturn caused by problems such as the war in Ukraine. He told the Austrian Broadcasting (ORF).

The ECB also wanted to prevent expectations of accelerated inflation from becoming established among the general public.

The ECB raised its main policy rate by 0.5 percentage points on the 21st. This is the first rate hike in 11 years since 2011, and it has joined the movement of rate hikes by the world's major central banks.