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Two or Three Fee Hikes This 12 months Acceptable – ECB’s Holzmann | Investing Information


May 7, 2022
tagreuters.com2022newsml LYNXNPEI4602K12022 05 07T064950Z 1 LYNXNPEI4602K RTROPTP 3 ECB POLICY HOLZMANN

ZURICH (Reuters) – The European Central Financial institution ought to hike rates of interest as many as 3 times this 12 months to fight inflation, hawkish policymaker Robert Holzmann instructed the Salzburger Nachrichten paper in an interview.

“I believe it might be acceptable to take no less than two and even three steps. These might be smaller ones, i.e. 0.25 proportion factors every. If this had been to occur by December, it might have the impact that by 2023 the deposit charges for banks, which are actually minus 0.5 p.c, could be in constructive territory,” the Austrian central financial institution governor was quoted as saying.

“You will nonetheless be fairly a bit away from the pure nominal rate of interest. So there’s nonetheless a protracted approach to go. However it might be sign to the general public.”

(Reporting by Michael Shields; modifying by Jason Neely)

Copyright 2022 Thomson Reuters.

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