European Central Vice President: Raising interest rates to 4% is ‎enough to curb inflation

Luis de Guindos, Deputy Governor of the European Central Bank, said that maintaining interest rates at 4% for an extended period may be sufficient to curb inflation.

He added, “We believe that the recent increase in interest rates, while maintaining them for some time, may be sufficient to reduce inflation to the targeted 2%.”

He pointed out that the level of inflation in the single European currency area will continue to decline in the coming months

The European Central Bank raised key interest rates yesterday by a quarter of a percentage point, for the tenth time in a row since July 2022.