ECB Close to Peak on Rates, ‘Not Much’ Tightening Left, Visco Says
18 July 2023
By Xavier D’Arcy – FRANKFURT (Econostream) – The European Central Bank is close to its terminal rate, though might still have some tightening left to do, ECB Governing Council member Ignazio Visco said on Tuesday.
In an interview with CNBC, Visco, who heads the Bank of Italy, said, ‘We might have something still to go, but my impression is we are close to the peak’, adding that the ECB ‘might have something more but not much.’
‘The question is not really how high it will be, but how long we will maintain our rates in restrictive territory in order to achieve our price stability target’, he said.