2023-06-07 19:00:24
European Central
A member of the European Central Bank’s Board of Directors, Gabriel Makhlouf, said today, Wednesday, that the main interest rates are likely to remain high for some time once they reach their peak during the coming period, adding that he will not specify a date for the European interest to reach its peak, despite the presence of some people. In the markets who are pricing in a rate cut by the end of the year.
The European official added that there will be discussions on the issue of stopping interest rate hikes, and there will be a judgment on whether or not the European Central Bank needs to continue raising interest rates following next summer.
It should be noted that in a press interview on Wednesday, European Central Bank policy maker and Bank of the Netherlands Governor Claes Nott made some very pessimistic statements regarding inflation, monetary policy and its impact on financial markets.
Nott said that although the financial markets in the euro area did not face strong pressures so far due to the European Central Bank’s hike in interest rates, the extension and length of the monetary tightening cycle may eventually weigh on the market and cause obvious pressures.
Commenting on the European Central Bank’s lowering of inflation expectations with its report yesterday, the Dutch policy maker said it looks very optimistic, noting that he expects the rate of inflation, especially core inflation, to remain very high for a long period of time.
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