5/29, 6:43 PM (Source: TeleTrader)
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ECB's De Cos: We are 'closer to end' of tightening cycle

Member of the European Central Bank (ECB) Governing Council and Bank of Spain Governor Pablo Hernandez de Cos remarked on Monday that the bank is "closer to the end" of the monetary policy tightening cycle. However, he reaffirmed that there is still "a way to go."

Speaking at an event organized by the International Affairs and Foreign Policy Institute (INCIPE), De Cos reiterated that although ECB has not given indications on what could happen with interest rates in the future, judging by the currently available data, the central bank believes more needs to be done.

Previously, ECB President Christine Lagarde shared that the bank will hold its interest rates at high levels "as long as necessary" in order to tackle the issue of high inflation.

Baha Breaking News (BBN) / AY