Mario Centeno, a member of the Governing Council of the European Central Bank, announced the central bank's readiness to suspend interest rate hikes in order not to cause damage to the eurozone economy, which is already in a state of stagnation. In his speech, he stressed that the ECB should exercise caution so that the impact of interest rate increases on the economy is minimal and sufficient to control inflation. «We are approaching the moment when we can temporarily suspend the tightening of monetary policy, we are very close to it,» Centeno said, adding that it is extremely important for any central bank not to exceed the measure. At the same time, ECB President Christine Lagarde yesterday confirmed market expectations regarding the ninth consecutive increase in interest rates in the eurozone, scheduled for July. Recall that over the past year, the ECB has consistently raised interest rates at each meeting, as a result of which the deposit rate reached the level of 3.5%. Representatives of the bank have repeatedly stressed their intention to continue tightening monetary policy in order to combat inflation, which continues to significantly exceed the target level of 2%.
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