Central Banks
ECB Still Has a Long Way to Go on Rates, Two Policymakers Say
- ‘Inflation is persistent,’ ECB must be even more stubborn
- German, Spanish central bank chiefs comment in FAZ interview
The European Central Bank headquarters in Frankfurt, Germany.
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
The European Central Bank will have to continue raising borrowing costs to fight record inflation, according to two of its top policymakers.
“I am convinced that this is not the end of the rate hikes -- we still have a long way to go,” Bundesbank President Joachim Nagel told Frankfurter Allgemeine Zeitung in a joint interview with Spain’s central bank Governor Pablo Hernandez de Cos. “Inflation is persistent. If we want to overcome it, monetary policy will have to be even tougher.”