Central Bank governor: More interest rate hikes are on the way

The move, designed to fight inflation, will further push up the cost of mortgages

Central Bank governor Gabriel Makhlouf. Picture: Domnick Walsh

The Central Bank governor has said officials are set to raise interest rates significantly in the coming months, a move which will push up the cost of mortgages.

He also said high inflation is likely to last well into 2023, but the economy should avoid a prolonged downturn.

In a blog on the Central Bank’s website, Gabriel Makhlouf reflected on discussions from the International Monetary Fund’s (IMF) annual meeting last week in Washington DC, where ...