ECB’s Makhlouf: Raising interest rates is absolutely necessary

European Central Bank (ECB) Governing Council member Gabriel Makhlouf said on Thursday that “raising interest rates is absolutely necessary.”

“Reducing public debt 'should remain a key priority', Makhlouf added.

He warned that “persistent inflation is damaging to economic stability.”

Market reaction

EUR/USD was last seen trading at 0.9986, 0.11% higher on the day.

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