BusinessCompany NewsEurozone interest rate rise expected

Eurozone interest rate rise expected

Rate rise hinted at by German bank official

Comments by
Axel
Weber
, president of the
German Bundesbank, suggest
that a further interest rate rise is on the cards across the EU.

Weber said that despite six rises in the past 14 months, rates were still
‘relatively low’ on a historical basis.

He was also concerned about inflation and the need to tackle economic risks.

Rates currently stand at 3.5%, their highest level in five years.

Most economists are predicting that the cash rate will rise by another
quarter-point to 3.75% when finance ministers next meet.

This call is despite figures published on Wednesday which showed a downward
revision in January’s
eurozone inflation from 1.9%
to 1.8%, below the ECB’s 2% target.

Further reading:

Central banks settle for temporary victory

Divergent growth trends drive banks’ policy

Bank surprises with rate rise

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