Michael Savage: ECB may have little choice but to start hiking interest rates again

The president of the ECB hinted last month that the central bank’s hiking cycle may have concluded but inflation is still stubbornly high

Inflation in the eurozone has been running above target for 27 consecutive months. It peaked at 10.6 per cent in October last year and remains well above target at 4.

3 per cent right now. The European Central Bank has responded by undertaking an unprecedented interest rate hiking cycle, shifting its deposit rate from -0.5 per cent to 4 per cent in little over a year.

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