Greece's Garganas: ECB won't follow Fed rate rises

The European Central Bank won't follow the US Federal Reserve's practise of continuous interest rate hikes, Bank of Greece governor and ECB Governing Council member Nicholas Garganas said Friday 9 December.

"While we are moving into a period of upward moving interest rates, this doesn't mean that each time the ECB meets that it will decide to raise them," Garganas said, following a meeting with Greece's finance minister.

Garganas said that he estimates the repercussions of the ECB's recent rat