ECB to raise rates in February and March
2023.01.22 07:50
ECB to raise rates in February and March
By Kristina Sobol
Budrigannews.com – Klaas Knot, a member of the governing council of the European Central Bank (ECB), stated in an interview with Dutch broadcaster WNL on Sunday that the ECB will raise interest rates by 50 basis points in both February and March and will continue to raise rates in the months that follow.
Knot stated, “Expect us to raise rates by 0.5 percent in February and March, expect us to not be finished by then, and that additional steps will follow in May and June.”
Knot stated that it was “too early to tell” whether the ECB could slow down the pace of its rate increases by the summer in a separate interview with Italian newspaper La Stampa that was published on Sunday.
He stated, “The risks surrounding the inflation outlook will naturally become more balanced at some point.”
“At that point, we could also reduce the rate by 25 basis points, for example, from 50 basis points. However, we are still far from that.”
