ECB's Makhlouf Signals Further Rate Hikes If Inflation Moves the Wrong Way

European Central Bank Governing Council member Gabriel Makhlouf said the ECB should not rule out further rate hikes if inflation starts moving in the wrong direction, according to Jiemian News. He said eurozone inflation is hovering above 3%, while economic growth is slightly stronger than forecast before the summer, which he said made him uneasy. Makhlouf added that next week’s decision will not surprise anyone, and said he expects the ECB to make a small upward revision to its eurozone growth forecast this year.