Robert Holzmann warned that they will continue to increase interest rates.
Robert Holzmann, a Member of the European Central Bank (ECB) Governing Council, said that the ECB would continue to increase its borrowing costs.
“We have recently increased interest rates strongly,” Holzmann said in a statement in Vienna on Tuesday, “We will raise interest rates even more.”
The Governor of the Austrian Central Bank, among the ECB’s most hawkish officials, said the Governing Council should be wary of decisive moves that could lead to “not only stagnation but also recession.”
The ECB has already raised interest rates by 200 basis points this year and is expected to increase them again at its December meeting.