ECB’s Muller Says Rates May Need to Stay High ‘Quite Some Time’
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The European Central Bank’s planned half-point increase in interest rates this month will probably be followed by more hikes, with borrowing costs to remain elevated for a while, according to Governing Council member Madis Muller.
“It’s most likely this won’t be the last rate rise in this cycle,” the Estonian central bank chief said Friday in Ljubljana. “It’s quite possible that interest rates will need to stay high for quite some time so that we can be sure that inflation will come back to, and remain at, close to 2%.”