The European Central Bank (ECB) will not stop short of a 0.50 percentage point hike at its next monetary policy meeting, a board member told CNBC on Thursday.

Headquarters of the ECBPhoto: Martti Kainulainen / Shutterstock Editorial / Profimedia

“It’s not going to stop after a single 0.50 percentage point hike, that’s for sure,” said Klaas Noth, who is the governor of the Dutch central bank, about the ECB’s future actions.

The European Central Bank raised interest rates four times during 2022, bringing interest on deposits to 2%.

In December, the central bank said it would continue raising interest rates in 2023 to combat high inflation.

The latest data showed a slowdown in headline inflation, even as it remains well above the ECB’s 2% target.

According to preliminary data, inflation in the Eurozone reached 9.2% in December. This is the second consecutive monthly decline in price growth in the eurozone. Nott, however, doesn’t see all the recent data as “encouraging.”

(source: news.ro)