ECB Vice-President Luis de Guindos stated in an interview, relating to how excessive are rates of interest going to go, “that’s one thing we are going to determine assembly by assembly and on the premise of incoming information, given the present excessive uncertainty.
“As we introduced this month, there can be additional, essential, fee hikes till inflation is on a path again to shut to our 2% goal,” he added.
Relating to the financial system, de Guindos stated Europe is at the moment in a “very tough financial scenario”, with “excessive inflation charges… coinciding with an financial slowdown and low development. With a recession on the horizon, the present excessive uncertainty makes it all of the tougher for companies and entrepreneurs to distribute their capital. So, towards this backdrop, it is extremely essential to be prudent.”
Full interview right here.
