ECB's Garganas says more rate hikes possible

European Central Bank Governing Council member Nicholas Garganas said on Thursday 27 April that more interest rate rises are probably on the way, with the timing dependant on economic growth and inflation developments.

"We should expect more interest rate increases in the euro zone," Garganas told a news conference at the Bank of Greece, echoing comments ECB Vice President Lucas Papademos made in Brussels on Tuesday.

"Inflation risks have risen and the pace of interest rate increases will depe