In the struggle over the future course of the European Central Bank (ECB), ECB President Christine Lagarde described further interest rate hikes as indispensable on Monday evening.
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Christian Siedenbiedel
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"We have made it clear that ECB interest rates still have to rise significantly and steadily in order to reach sufficiently restrictive levels and that they must remain at these levels for as long as necessary," said Lagarde at the Deutsche Börse annual opening in Eschborn .
While energy inflation has recently been declining, underlying inflation continues to rise: "It is therefore crucial that inflation rates above the ECB's 2% target do not become entrenched in the economy," Lagarde said.
"We need to lower inflation - and we will achieve this goal," stressed the ECB President.
Demand for smaller rate hikes
Two members of the Governing Council of the ECB had previously expressed a somewhat more cautious view of the future course.
The head of the Greek central bank, Yannis Stournaras, said in an interview that the central bank should no longer raise interest rates so much due to the slowdown in the economy: "In my opinion, the adjustment of interest rates should be more gradual."
The head of the Italian central bank, Ignazio Visco, on the other hand, emphasized in a speech that he at least does not see why it should be associated with greater risks for the ECB in the current situation to do too little than too much when it comes to raising interest rates.
Peter Kažimír, head of the central bank of Slovakia, said more resolutely: “A fall in inflation for two consecutive months is good news.
But it's no reason to slow the pace of rate hikes.”