The European Central Bank (ECB) will probably continue to raise interest rates beyond 2%, but 'jumbo' rate hikes will not become a new habit, France's central bank chief said in a speech in Tokyo on Tuesday.
Signage is seen outside the European Central Bank building, in Frankfurt, Germany, July 21, 2022. REUTERS/Wolfgang Rattay
The ECB has increased rates at its fastest pace on record recently, hiking them by a combined 200 basis points to 1.5% in just three months. Despite that rapid pace, markets still expect the bank to hike rates further to tame sharp, broad-based inflation. "Beyond this level, we will probably continue to raise rates, but we may do so in a more flexible and possibly less rapid manner. Jumbo rate hikes will not become a new habit."
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