European Central Bank considers substantial interest rate increase against inflation

European Central Bank considers substantial interest rate increase against inflation

European central bankers are considering raising interest rates faster to tackle high inflation. This is what President Knot of De Nederlandsche Bank says in an interview with the NOS. He calls for an increase of at least 0.5 percentage points and possibly even 0.75 percentage points in September. “The inflation problem in Europe at the moment is so great that I think our task is to raise interest rates every six weeks until the inflation picture stabilizes around 2 percent,” says Knot. Inflation in the eurozone averaged 9.8 percent in…

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