ECB official warns of possible rate hikes

The article highlights the European Central Bank's approach to further raising interest rates to combat the risks of high inflation, despite the core inflation remaining at relatively low levels. ECB Council member Dolenik pointed out that the persistence of inflation at elevated levels, linked to geopolitical factors and rising energy prices, could necessitate more monetary tightening. However, the timing and extent of this tightening will depend on the data received at each meeting. He also emphasized that current data suggest a temporary grip on inflation, though upside risks remain, especially with rising energy prices and the economic conditions within the Eurozone, where the economy has shown notable resilience and continued growth despite challenges.

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