ECB’s Vujčić: Obviously More Interest Rate Hikes to Come
24 January 2023
By David Barwick – ZAGREB (Econostream) – The European Central Bank will clearly continue hiking interest rates in the near term, Governing Council member Boris Vujčić said Tuesday.
Speaking on a panel during a conference to celebrate the accession of Croatia to the euro area, Vujčić, who heads the Croatian National Bank said that in the short run, 'Obviously we can expect interest rates to go up...we have not reached the end...So, we'll see more interest rate hikes.'
Vujčić noted elevated core inflation, though he also acknowledged that in general, inflation would subside ahead.
'Looking at the medium to longer run, there are ... other factors that will be in play’, he said. ‘Even the euro area ... is not isolated from what happens in the rest of the world. ... we are looking at a process that looks a little bit like deglobalisation.'