ECB will increase interest rates further: Holzmann

Bloomberg

The European Central Bank (ECB) will continue to increase borrowing costs, according to Governing Council member Robert Holzmann.
“We’ve recently raised interest rates strongly,” he said in Vienna. “We will raise interest rates further.”
Still, the Austrian central bank chief — among the ECB’s most hawkish officials — said the Governing Council must be mindful of too strong moves that could lead “not just to stagnation, but to a
recession.”
The ECB has already raised rates by 200 basis points this year and is expected to
hike again at its December meeting.