BVR President Kolak: ECB corrects course and sends clear signal
against inflationary pressures
Berlin (ots) – “The ECB corrects its course with the largest increase in key interest rates
of its history and sends a clear signal against the high inflationary pressure
the euro zone. We expressly welcome that,” comments Marija Kolak,
President of the Federal Association of German Volksbanken and Raiffeisenbanken
(BVR), today’s decision of the Governing Council of the European Central Bank (ECB).
Even in the short term, the rate hikes could affect the exchange rate of the euro
stabilize.
Despite the subdued economic situation, the ECB should be able to continue on its chosen path
no doubts about the prospects of the war in Ukraine and the energy crisis
to let. Further interest rate increases are necessary to compensate for the loss of purchasing power
stop, and for the economy to bear, given the financing conditions
continue to be cheap. Only with the timing and extent of further
The ECB should retain the necessary flexibility for interest rate moves. The most urgent
The problem for the economy is the energy shortage. However, you would have to
the EU Commission and the governments of the member states find an answer,
not the ECB. “Consistently pursuing the goal of price stability is the
best contribution that the ECB is making to overcome the current crisis
can,” explains Kolak.
Press contact:
Federal Association of German Volksbanken and Raiffeisenbanken (BVR)
Melanie Schmergal, Head of Communications and
Public Relations / Spokesperson
Telephone: (030) 20 21-13 00, mailto:[email protected], http://www.bvr.de
Further material: http://presseportal.de/pm/40550/5316707
OTS: BVR Federal Association of German Volksbanks and Raiffeisenbank
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AXC0185 2022-09-08/14:56
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