‘ECB should raise interest rates right now’

ecb should raise interest rates right now 0 Qi1NJbtl

UBS Group President Weber said in an interview with Bloomberg Television, “I don’t understand why they have to wait until December. Failure to act early may require faster action in the future. They should accept this problem and take action.”

Weber said, “Why should we wait 9 months before accepting that there is an inflation problem and that it is more permanent than anticipated?” continued in the form.

ECB announced at this month’s meeting that it would reduce its asset purchases faster to combat the high inflation. Bank officials are signaling that the asset purchase program may be terminated in the third quarter of the year and that they may increase interest rates as of December.

President Christine Lagarde stated that rate hikes would be gradual.

ECB Board Member Pablo Hernandez De Cos, speaking today, noted that Russia’s invasion of Ukraine is a major threat to confidence, consumption and investments. De Cos warned that the increase in energy costs will further increase inflationary pressures and the March inflation data will be negative.

It is expected that inflation in money markets will be nearly 3 times the 2 percent target. Markets are expected to increase interest rates by four quarter basis points until next March. The last time such a successive series of interest rate increases took place 15 years ago.

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