10/28, 9:06 AM (Source: TeleTrader)
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Austrian FM hopes for ECB rate hike - report

Austrian Finance Minister Gernot Blumel said on Thursday that inflation concerns are giving him "sleepless nights" and that he hopes the European Central Bank (ECB) will raise interest rates.

"Some EU countries have such high debts that they cannot afford higher interest rates. The accusation is not unjustified that the European Central Bank is not increasing interest rates because of these states. But that would be a betrayal of the Europeans," Blumel surmised in an interview with Austrian magazine Profil.

The minister also commented on the prospects of Sebastian Kurz coming back as Federal Chancellor, saying that it would depend "on the status of the allegations to be examined."

Breaking the News / IB