ECB Governing Council member Olli Rehn said, “Policy rates will still have to rise significantly… This means significant rate hikes at this winter’s remaining meetings.”
Though he also admitted that it’s a fair argument that it takes time to reverse the a decade of stimulus.
“With the benefit of hindsight, there may be some truth in this argument, at least from the standpoint that we could thus have created more policy space to react if the euro zone economy falls into recession,” Rehn said.
