Modest ECB Rate Hike Would Limit Economic Pain, Stournaras Says

A small European Central Bank interest-rate increase could temper inflation without causing economic damage, Governing Council member Yannis Stournaras told Liberal.gr.

“A significant but temporary excess over the inflation target would mean a measured adjustment of monetary policy in a more restrictive direction in the near future, in order to limit the intensity of second-round effects, without disproportionately affecting economic activity,” the Greek central bank was cited as saying.