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ECB’s Visco urges ‘gradual’ rate hikes

The European Central Bank should adopt a “gradual” approach to interest rate hikes as inflation is showing early signs of decelerating and lending is shrinking, ECB policymaker and Bank of Italy governor Ignazio Visco said on Wednesday.

“Data on market- and survey-based inflation expectations – including their recent decline at short horizons and their decreasing profile ‒ and the marked deceleration of prices on a 3-month annualised basis may call into question the persistence of inflation at high levels in the euro area, reinforcing the arguments in favour of gradual monetary normalisation,” Visco told an audience in Frankfurt.
Source: Reuters

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