European Central Bank member Klas Knott said the bank could raise interest rates by around 75 basis points at its next December meeting.
The European Central Bank raised rates by around 75 basis points at its meeting last week, the highest level since 2009.
In statements to German media reported by Reuters, Nutt said: We will take a big step on the interest rate at the December meeting, and the next hike is likely to be at a pace of between 50 and 75 basis points.
The ECB official pointed out that the bank is not even halfway there in terms of fighting high inflation in the Eurozone.
He continued: We are bringing interest rates back to neutral and the bank will continue to tighten monetary policy next year in an effort to reduce inflation, which is currently close to 10% in the euro area.
