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11 May 2022

Müller: ECB to Lay down Future Interest Rate Hike Plan in June

The Index Today

Bank of Estonia Chairman and ECB policymaker Madis Müller has revealed that the European Central Bank could possibly unveil its plans for interest rate hikes in the forthcoming months at it monetary policy meeting on June 9.

According to Reuters, this comes as the ECB finds itself under immense pressure to reimburse stimulus as the euro zone inflation remains at a marked high of 7.5%, far surpassing the central bank’s target by almost four times. Many ECB policymakers are also advocating for faster "normalisation", involving the discontinuation of interest rate increases and asset purchases.

Müller contended, "I’m not sure we should be deciding on interest rate hikes then (in June)." However, he added, “But perhaps we could indicate our expectation for interest rates. From my perspective, we could focus the following meeting (on July 21) on interest rates."

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