Economics
ECB Rates Likely Positive by Early Next Year, Makhlouf Says
- Irish official joins growing group backing summer hike
- Slovakia’s Kazimir earlier signaled support for July move
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The European Central Bank will probably raise interest rates back above zero by early 2023 to combat record euro-area inflation, according to Governing Council member Gabriel Makhlouf.
The Irish official joined a growing group on the ECB’s Governing Council in suggesting that net bond-buying should end “next month or in July” -- a step that would pave the way for a first rate hike in more than a decade.