The European Central Bank might need to raise interest rates further before coming to a pause in its hiking cycle, said governing council member Pierre Wunsch.
“I’m inclined to say we maybe need to do a little bit more,” the hawkish Belgian central bank governor said Saturday, adding that the “idea that we’ll have to come to a pause at a certain point can’t be excluded.”
It’s too soon to talk about a real stop, Wunsch said on Belgian public radio, pointing to “very persistent” inflation.
While price pressures are decreasing, Wunsch said he doesn’t expect inflation to hit the ECB’s target of 2% before 2025.
Read more: Euro-Zone Inflation Gauges Hold Above 5% Before Key ECB Meeting
