8/30/2022, 2:42 PM (Source: TeleTrader)
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ECB's Knot in favor of 75 bps hike in September

European Central Bank Governing Council member Klaas Knot stated on Tuesday that he is "leaning towards" a 75 basis-point rate hike at the September meeting, adding that he is "open to discussion." He said he is "not convinced" that going back to the neutral rate would be enough to stabilize the economy and that "some frontloading" should not be excluded.

Knot warned that an economic slowdown is inevitable this year and that inflation could be "significantly above target" in 2023. He cautioned that "labor hoarding" is possible in the initial phase of the slowdown.

Baha Breaking News (BBN) / DJ