The European Central Bank (ECB) will begin raising interest rates gradually this summer, said Francois Villeroy de Galhau, a member of the ECB and governor of the central bank of France.
Several members of the ECB are talking about an interest rate hike in July to offset rising inflation, which jumped to 7.5% in the eurozone last month.
“I think from this summer on, the ECB will gradually raise interest rates,” Villeroy told French radio.
He stressed that he expects inflation to remain “high” for the rest of 2022 but added that inflation should fall back to 2% by 2024.
Bundesbank Governor Joachim Nagel said earlier this week that the ECB should increase in July to stem inflation.
Source: Capital
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