2023-05-07 11:25:49
AMSTERDAM, May 7 (Archyde.com) – Interest rate hikes by the European Central Bank (ECB) are starting to take effect but more will be needed to contain inflation, the governor of the Dutch central bank said on Sunday. Klaas Knot.
Perceived as a “hawk” within the ECB’s governing council, Klaas Knot told Dutch television that he agreed with the central bank’s decision on Thursday to slow the pace of the rate hike to 25 basis points.
However, he might also support raising the central bank’s deposit rate to as much as 5% from the current 3.25%, or even higher, if inflation proves more persistent than he thinks.
“Our policy works with some delay, so the biggest effects of what we have done so far are yet to come,” Klaas Knot said in an interview on Buitenhof. (Report Toby Sterling, French version Kate Entringer)
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