ECB needs at least two ‘significant steps’ in coming meetings – Knot

DNB financial stability report warns high inflation and weak growth will test banks

Klaas Knot
Klaas Knot
Photo: DNB

The European Central Bank needs “at least two” more “significant rate hikes”, said the Netherlands Bank president Klaas Knot on October 10.

The ECB’s governing council member stressed the central bank first needs to normalise its interest rate policy before it can start quantitative tightening. His remarks echo recent statements by ECB president Christine Lagarde and Banque de France governor François Villeroy de Galhau.

The ECB deposit rate stands at 0.75%, following a 50 basis point rate

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