European Central Bank Member Warns Against Risks

European Central Bank Governing Council Member Ignazio Visco noted the message of gradual action in the fight against record inflation, taking into account the risks facing the economy.

Bank of Italy Governor Visco underlined the need for further rate hikes against the risk of a permanent rise in inflation after last week's 75 basis point rate hike. "High uncertainties require us to continue raising interest rates gradually," said European Central Bank (ECB) Governing Council Member Ignazio Visco. The European Central Bank has increased interest rates by a total of 200 basis points in the last 3 months and gave the message that interest rate hikes will continue in the following months. At its meeting last week, the ECB removed the statement that interest rate hikes would continue for a few more meetings from the monetary policy text and replaced it with the note that 'interest rates will increase further'. Visco also noted that the deterioration in the economic outlook will be effective in determining the amount of interest rate hikes. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!