Eurozone interest rate rise expected
Rate rise hinted at by German bank official
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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