Interest Rates

Italian central banker Ignazio Visco says ECB is near the end of rate-hiking cycle

The Italian’s comments are possibly the last from ECB governing council members before the bank’s next interest-rate decision on September 14

Ignazio Visco, the Italian Central Bank chief, said there are a series of indicators that show how some core inflation components are slowing Picture: WPA Pool

The European Central Bank is nearing the point where it can cease lifting borrowing costs, according to ECB governing council member Ignazio Visco.

“I believe we are near the level where we can stop raising rates,” the Italian central bank head said Wednesday at an event in Milan. Looking forward, “monetary conditions will need to stay sufficiently restrictive” to ensure inflation returns to the 2 per cent target, he said.

Visco disagreed with colleagues who ...