ECB willing to hike rates further, say minutes

Governing council stresses it needs to be persistent and vigilant to bring inflation to 2% target

ECB - JULY 2018 - Getty - web.jpg

The European Central Bank’s governing council is open to increasing interest rates further to safeguard price stability, say minutes of the October monetary meeting published on November 23.

On October 26, the ECB maintained interest rates unchanged at 4%. The decision followed 10 consecutive rate increases starting in July 2022, when the key deposit rate stood at -0.5%.

Headline inflation peaked in the eurozone at 10.6% in October 2022. Over the past year it has fallen rapidly to 2.9% last

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