Wellink says the ECB will not allow for increase in inflation

By @ibtimes on

ECB governing council member Nout Wellink said the Bank's borrowing cost hike in April convenes a significant message to investors that the ECB will not allow for increase in inflation.

He clarified that raising interest rate now is better than suffering from future problems, adding that the bank will continue its tightening till shoring up inflation to the targeted 2%, where he described the rise in inflation to 2.7% in March as disappointing.

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