(Bloomberg) -- It’s unclear whether the European Central Bank has lifted borrowing costs to their peak, with the persistence of inflation meaning further hikes can’t be excluded, according to Governing Council member Robert Holzmann.
The hawkish Austrian official listed threats to the retreat in euro-zone consumer prices including wage negotiations and the rising cost of oil.
The remarks come as investors become increasingly convinced by the ECB’s pledge to keep borrowing costs restrictive for a prolonged period to ensure inflation is headed back to 2%. ECB President Christine Lagarde reiterated Monday that borrowing costs will remain elevated for as long as needed to tame prices — even as the economy wobbles.
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