ECB accounts show inflation fears justifying more rate hikes

European Central Bank meeting accounts show inflation fears justifying more rate hikes

Accounts of the Oct. 26-27 meeting showed the bank said ‘rates would need to be raised further to reach a level that would deliver on the ECB’s 2 per cent medium-term target’

ECB accounts show inflation fears justifying more rate hikes

FRANKFURT - European Central Bank policymakers feared that inflation may be getting entrenched at their last policy gathering so rates would need to rise further, the accounts of the Oct 26-27 meeting showed on Thursday. The ECB raised rates by 75 basis points to 1.5% at the meeting to fight sky high inflation, bringing its total hikes to 200 basis points since July for its fastest