Central Banks
ECB’s Simkus Says He Favors Three-Quarter-Point October Hike
- Lithuanian central banker speaks in Bloomberg TV interview
- Policy makers urge further rate incrases as recession looms
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European Central Bank Governing Council member Gediminas Simkus said he’s leaning toward supporting a three-quarter-point increase in interest rates next month as inflation approaches another all-time high.
The Lithuanian central bank chief told Bloomberg Television on Thursday that a move of 100 basis points would “definitely” be too much at the moment, and that 50 basis points is the minimum.