(Bloomberg) — The European Central Bank will deliver big increases in borrowing costs at its upcoming meetings, according to Governing Council member Pablo Hernandez De Cos.
(Bloomberg) — The European Central Bank will deliver big increases in borrowing costs at its upcoming meetings, according to Governing Council member Pablo Hernandez De Cos.
“We plan to continue increasing interest rates significantly in the next meetings,” the Spanish central bank chief said Wednesday evening in Madrid.
The hikes will continue “until reaching sufficiently restrictive levels to ensure that the inflation returns to the 2% target over the medium term,” he said.
De Cos also said:
- Lifting rates to restrictive levels will help protect against an upward shift in inflation expectations
- Government spending should be targeted and temporary, so as not to worsen price pressures
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