While the ECB is expected to further increase rates on May 4, officials are wary of making firm predictions on how much.
Any decision will be based on data “because we have reached close to the ceiling, close to the maximum increase,” Stournaras said of the ECB meeting in May.
“Close. I didn’t say we have reached it yet, but we are converging towards it,” he said on ERT television, according to an interview transcript. Policymakers will get key data on inflation and bank lending two days before they meet. Eurozone inflation has stopped rising since October, when it was about 10%, said Stournaras, who heads the Bank of Greece.
“We expect deceleration close to 3% at the end of the year and even more in 2024,” he said. — Bloomberg
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