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ECB node says it favors big rate hikes – NOS interview

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News Tech: AMSTERDAM, Aug 26 (Reuters) – Klaas Knot, a member of the European Central Bank’s governing council, said in an interview with Dutch national broadcaster NOS on Friday that he favours large interest rate hikes to tame inflation.

“Europe’s inflation problem is so large at this moment that I think it’s our duty to raise rates every six weeks until the moment that inflation stabilizes,” Knot told the broadcaster.

Knot, who is also the Netherlands’ Central Bank president, was speaking from Jackson Hole, Wyoming, where the U.S. Federal Reserve is holding its annual conference.

Knot has been one of the more hawkish members of the ECB’s board, with Dutch inflation above 10% and unemployment at 3.3%.

RegisterReporting by Toby Sterling
Editing by Chris Reese and Leslie Adler

Source: Reuters Trust Principles.

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