Iris Bethge-Krauß: “The ECB is on the right track – but it’s not quite there yet”

Berlin – Iris Bethge-Krauß, Executive Managing Director of the Association of German Public Banks (Bundesverband Öffentlicher Banken Deutschlands, VÖB), comments on today’s monetary policy decisions of the European Central Bank’s Governing Council:

“With the eighth interest rate hike in a row, the ECB continues to stay on course – which is an important signal. The small hike takes the slow economic momentum and a slight reduction in inflationary dynamics into account. Yet the still-excessive inflation rate, and especially the persistent core inflation, require a cautious stance. The ECB is on the right track – but it’s not quite there yet.”