He is a member of the European Central Bank’s Governing Council.
Dutch central bank president Clasch Knut said on Sunday that interest rate hikes by the European Central Bank are starting to bear fruit, but more will be needed to contain inflation.
Knut made the remarks to a Dutch television programme, and is also a member of the European Central Bank’s Governing Council, according to Reuters.
The European Central Bank raised interest rates by 25 basis points, to 3.25%, today, Thursday, May 4, as expected.
The bank kept its options open on future moves as its battle to combat high inflation in the eurozone continues.
“Inflation expectations remain very high for a very long time,” the ECB added in a statement. With the latest announcement, the bank’s benchmark interest rate will move to 3.25% from May 10th.
The decision comes after inflation figures released earlier this week showed an increase in the core rate to 7% for the month of April. Meanwhile, the core inflation rate, which excludes food and energy prices, fell slightly to 5.6%.
“Core inflation has declined in recent months, but underlying price pressures remain strong,” the central bank said on Thursday.
2023-05-07 11:52:00
#European #economy #Netherlands #Central #Bank #interest #rate #hikes #euro #required #inflation
