The European Central Bank will hike interest rates further in the euro zone to combat high inflation, ECB’s Vice-President Luis de Guindos said today.
“There will be more interest rate hikes, until when, I don’t know. I am absolutely honest, I don’t know,” De Guindos said.
He added that the institution was committed to bring inflation down to its 2% mid-term goal.
On Thursday, the ECB eased the pace of its interest rate hikes but stressed significant tightening remained ahead and laid out plans to drain cash from the financial system as part of a dogged fight against runaway inflation.