Risks to the inflation outlook in the Eurozone remain upward and have intensified, especially in the short term, the member of the Board of Directors warned today. of the European Central Bank and Governor of Banco de España, Pablo Hernandez de Cos.
De Cos said risks include a prolonged deterioration of the Eurozone economy, but also persistently high energy and food prices.
The ECB raised interest rates by 50 basis points last week, its first rate hike in 11 years, and signaled it plans further rate hikes at future meetings to bring inflation back to its 2% target over the medium term.
The official pointed out, however, that the bank’s future decisions on interest rates will be taken at each meeting separately.
Source: Capital
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