ECB Governing Council Member: Further significant rate hikes may be needed after March

ChainCatcher news, ECB Governing Council member Nagel stated that interest rates must remain high until the inflation rate returns to 2%. The possibility of inflation returning to the target must be seen. Before there is sufficient evidence showing that underlying inflation is moving towards the target, discussions on interest rate cuts cannot take place. There is a tendency to significantly reduce the balance sheet starting in July, and further substantial rate hikes may be needed after March.