European Central Bank Executive Committee member Frank Elderson said today that bank officials could begin raising interest rates from their all-time low in July, downplaying the risk of a recession in the eurozone as the war in Ukraine strikes. growth and fuels already high inflation.
Elderson said the ECB could complete its net asset purchases – something that would pave the way for rising borrowing costs – “at the earliest opportunity”.
“This will allow us to start looking at interest rate normalization in July, always based on incoming data,” he told a conference in Brussels, according to Bloomberg.
He noted that although the economic recovery is lower and weaker than expected, there is no scenario of recession, depending on how the war in Ukraine will develop.
Source: Capital
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