2023-07-28 22:03:15
Yannis Stournaras, a member of the European Central Bank’s Governing Council, confirmed that any new increase in European interest rates next September will be the last in the current cycle of tightening monetary policy in the eurozone.
Stournaras said in an interview with the Greek “Capital.R” website: It seems as if we are very close to the end of interest rate increases. Anyway, I think there will be one more increase, but I think it would be hard to be in September.
Bloomberg news agency quoted Stournaras, the governor of the Greek central bank, as saying that interest rates should remain at their peak for the next several months.
This comes after the European Central Bank announced the day before yesterday to raise the interest rate by 0.25 percentage point to 4.25%. This is the ninth consecutive time that the central bank seeks to combat persistent inflation in the euro area. The Bank’s Board of Governors approved a rate hike yesterday in Frankfurt.
On the other hand, Peter Casimir, a member of the European Central Bank’s Governing Council, said that the Governing Council’s decision to increase the interest rate by a quarter of a percentage point would not be enough to accomplish the bank’s task of controlling the high inflation rate.
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