Sticky inflation complicating ECB rate path – Makhlouf
8:14 am Friday, June 30th, 2023
DUBLIN (Reuters) – Euro zone inflation is proving “stickier”, meaning the decision on when to stop raising interest rates is not straightforward, European Central Bank governing council member Gabriel Makhlouf was quoted as saying on Friday.
“We’ve seen a greater persistence in inflation – it’s stickier. We’re making these decisions meeting by meeting and looking at the data and what’s happening to inflation dynamics. My view is that we’re near the top of the ladder,” Makhlouf told the Irish Times in an interview.
“If you go up a ladder, it’s quite easy to take two, three rungs at a time when you start but as you get closer to the top, judging when to stop isn’t as straightforward.”
(Reporting by Padraic Halpin; Editing by Andrew Heavens)
