Mario Centeno, a member of the European Central Bank and Governor of the Portuguese Central Bank, said that further rate hikes by the ECB in the short term were “inevitable”.
Speaking to Jornal de Negocios newspaper, Centeno said that he expects inflation to peak in the current quarter and start to slow down from the end of the first quarter of 2023.
Emphasizing that the ECB expects a “very rapid” decline in Eurozone inflation next year, Centeno said, “Inflation, which is expected to approach 10 percent in the fourth quarter of 2022, is expected to decline to around 3 percent in the fourth quarter of 2023.”
foreks.com