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ECB to raise rates by 50 basis points in February and March, says Klaas Knot

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The ECB will raise rates 50 bp in February and March

Knot said it was too soon to tell whether the ECB could slow its rate hikes for the summer.

The ECB building in Frankfurt.  Credit: Reuters file photo

The European Central Bank (ECB) will raise interest rates by 50 basis points in both February and March and will continue to raise rates in subsequent months, ECB governing council member Klaas Knot said in an interview with the Dutch broadcaster. WNL on Sunday.

“Expect us to raise rates by 0.5% in February and March and expect that we won’t be done by then with more steps to follow in May and June,” Knot said.

In a separate interview with the Italian newspaper The stamp Published on Sunday, Knot said it was “too early to tell” whether the ECB could slow its rate hikes by the summer.

“At some point, of course, the risks surrounding the inflation outlook will balance out,” he said.

“That would also be a time when we could take a further step down from 50 to 25 basis points, for example. But we’re still far from that.”

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