FRANKFURT (Reuters) – European Central Bank (ECB) President Joachim Nagel said on Friday that the European Central Bank will increase interest rates after it raised interest rates to 22 year highs. The interest rate may need to last until Thursday at 3.5% after the summer holidays.
“We have more to come,” he said in a speech after the ECB said it would raise rates in July but did not commit to a follow-through. A lot of ground needs to be covered.” “We may need to keep raising rates beyond the summer break.”
He added: “Once we peak, we will keep it there until we are confident that inflation will be safe Getting back in time to hit our 2% goal.”