ECB’s Müller: No Reason to Consider Changes in Interest Rates in Near Future

15 December 2023

By Isabel Teles – FRANKFURT (Econostream) – European Central Bank Governing Council member Madis Müller on Friday said that changes in interest rates were unlikely in the short term.

In an interview with Estonian radio Aripaev, Müller, who heads the Estonian central bank, said, ‘There is no reason to consider either a further increase in interest rates or a reduction in interest rates in the near term.’

Appropriate now was sufficient patience for the inflation target to be achieved, he said.

‘Now, above all, it is necessary to wait patiently before the next decisions for clearer indications that euro area inflation will indeed fall permanently to 2% within a reasonable period of time,’ he said.

Markets were ‘a bit premature’ and ‘a bit optimistic’ to consider that the fight against inflation was over, he said.

'It is hard to believe that the central bank can become so confident as quickly as financial market investors are currently expecting’, he said.