Issing: ECB will act if inflation 'out of control'

European Central Bank chief economist Otmar Issing said in an interview that the ECB will not hesitate to raise interest rates if medium-term inflation pressures increase.

'If we see that inflation threatens to get out of control from a medium-term perspective...then we will act,' Issing said in an interview with German financial magazine Euro.

And he added: 'You cannot forever just react with threats and interpretations.'

Issing told the magazine the ECB is maintaining a stance of strong vigi

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