{"id":19839,"date":"2023-04-14T04:41:51","date_gmt":"2023-04-14T04:41:51","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/europeans-to-see-more-interest-rate-hikes-central-bank-governors-indicate-finance-bitcoin-news\/"},"modified":"2023-04-14T04:41:51","modified_gmt":"2023-04-14T04:41:51","slug":"europeans-to-see-more-interest-rate-hikes-central-bank-governors-indicate-finance-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/europeans-to-see-more-interest-rate-hikes-central-bank-governors-indicate-finance-bitcoin-news\/","title":{"rendered":"Europeans to See More Interest Rate Hikes, Central Bank Governors Indicate \u2013 Finance Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Further rate hikes are warranted by persisting inflation in the eurozone, according to members of its monetary authority\u2019s decision-making body. Two central bank governors, with different opinions about how aggressive the European Central Bank should be, nevertheless agree that more increases of key interest rates are yet to come. <\/strong><\/p>\n

ECB Has Some Hikes Left to Make, Bank of France Chief Admits<\/h2>\n

Although the European Central Bank (ECB<\/a>) has done most of the work in terms of interest rate hikes, it still has a \u201clittle way to go,\u201d Banque de France Governor Francois Villeroy de Galhau said on Wednesday, quoted by Reuters. It\u2019s not the first time Villeroy has prepared the public for what\u2019s to come.<\/p>\n

After the fastest ever rate raising during the past year, the ECB is now considering whether to slow down the increases. The next decision is expected in early May, when policymakers will determine how much higher than 3% the deposit rate needs to be to bring inflation down to the 2% target.<\/p>\n

\u201cWe may possibly still have a little way to go on rate hikes at our next meetings, though I think it\u2019s premature to decide now what we will do in May,\u201d Villeroy said in a speech in Washington. He made a similar statement in an interview at the end of March.<\/p>\n

The head of the French central bank, who is a member of ECB\u2019s Governing Council, believes most of the rate hiking has been done already and argues that the biggest impact will come from previous rate increases. The tightening can stop once inflation starts turning around, he insisted, elaborating:<\/p>\n

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A turnaround in the trajectory of underlying inflation \u2013 be it actual or expected with sufficient certainty \u2013 should be a trigger for stabilizing our rates.<\/p>\n<\/blockquote>\n

Inflation Outlook Warrants 50 Bps Increase, Austria\u2019s Hawkish Central Bank Governor Says<\/h2>\n

Since July, 2022, the ECB has raised interest rates by 350 basis points (bps) including three back-to-back 50 bps increases, but it has not provided any clear indication yet about the potential outcome of its upcoming meeting on May 4, Reuters noted in a separate report.<\/p>\n

Oesterreichische Nationalbank Governor Robert Holzmann, who also sits on the ECB\u2019s 26-member Governing Council, told the German press that the eurozone\u2019s monetary authority needs to keep raising interest rates. In an interview with the Boersen Zeitung newspaper, he insisted:<\/p>\n

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The persistence of inflation currently argues for another 50 basis points.<\/p>\n<\/blockquote>\n

\u201cThere is a great deal of common understanding in the ECB Governing Council that we have not yet reached the end,\u201d Holzmann revealed. \u201cWe must continue to act decisively and continue to raise key interest rates noticeably even beyond May,\u201d added Austria\u2019s chief banker who is considered a hawk among the Council\u2019s members.<\/p>\n

Expectations for further rate increases were recently highlighted<\/a> by two other members of the Council \u2014 the Governor of the Croatian National Bank, Boris Vuj\u010di\u0107, and his colleague at the helm of Bank of Slovenia, Bo\u0161tjan Vasle. Core inflation is clearly on an upward trend, Vasle was quoted as saying while Vuj\u010di\u0107 acknowledged that more hikes may follow.<\/p>\n

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austria<\/a>, Central Banks<\/a>, ECB<\/a>, Euro<\/a>, European Central Bank<\/a>, Eurozone<\/a>, France<\/a>, Governing Council<\/a>, governors<\/a>, Hike<\/a>, hikes<\/a>, inflation<\/a>, Interest<\/a>, interest rates<\/a>, members<\/a>, rates<\/a><\/div>\n<\/div>\n

By how much do you expect the ECB to raise interest rates in May? Share your forecasts in the comments section below. <\/strong><\/em><\/p>\n

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\nLubomir Tassev <\/h6>\n

\nLubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens\u2019s quote: \u201cBeing a writer is what I am, rather than what I do.\u201d Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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