ECB’s Müller: Current Level of Interest Rates Still Restrictive, Given Economic Situation

13 December 2024

ECB’s Müller: Current Level of Interest Rates Still Restrictive, Given Economic Situation
Madis Müller, governor of Eesti Pank, at the European Central Bank’s Forum on Central Banking in Sintra, Portugal, on July 3, 2024. Photo by the ECB under CC BY-NC-ND 2.0.

By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Madis Müller said on Friday that ECB interest rates could still be regarded as restrictive, given economic circumstances.

In an interview with Estonian radio Vikerraadio, Müller, who heads the Eesti Pank, said that ‘[r]ight now it could be thought that we are at the boundary where interest rates are still more likely to be high considering the economic situation.’

Economic growth could pick up slowly, but an economic boom was not expected by anyone, he said.

The ECB would only return to an environment of 0% interest rates in the event of emergency, he said.

 

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