Member of the European Central Bank: we will continue to raise interest rates

The head of the Dutch central bank, Klaas Knot, said that the European “central” will continue to raise interest rates in the next five meetings until July 2023, through hikes of half a percentage point, in so that interest reaches its highest level next summer.

And Klaas Knot stressed that the greatest danger currently lies in not taking enough decisions to curb inflation, according to the “Financial Times” newspaper today, Monday.

Nott added that the European Central Bank member will assess the performance and impact of tightening monetary policy during 2023, then set a date to stop hiking interest rates, stressing that halting interest rates it will be a major challenge, given the depth of the impending recession.

Earlier this month, the European Central Bank raised interest rates by 50 basis points, taking the interest rate to 2.50%, to curb rising inflation.

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