Raising interest rates is not the way to curb inflation, says Central Bank
Governor Gabriel Makhlouf is worried about rising prices but says correction should be left to markets
Raising interest rates to tackle the current spike in inflation would only lead to job losses and reduce economic growth, Gabriel Makhlouf, governor of the Central Bank of Ireland, has said.
Makhlouf said fiscal authorities should have patience and allow markets to correct themselves, despite inflation levels hitting their highest peak in decades. In Ireland, the inflation rate hit 5.1 per cent last month, among the highest for any European member state, marking the first ...