Feb 24 (Reuters) - The European Central Bank may still
need to raise interest rates significantly beyond March as
inflation, particularly underlying price growth, remains too
high, Bundesbank President Joachim Nagel told a news conference
in Bengaluru.
"What seems distinctive to me is that core inflation will
remain at a very high level beyond March," Nagel said on the
sidelines of the G20 meeting. "That's why I don't rule out that
further significant interest rate hikes beyond March will be
necessary."
The ECB has already promised to raise rates by 50 basis
points to 3% in March and markets now price another 75 basis
points of moves before the end of the summer.
(Reporting by Francesco Canepa; writing by Balazs Koranyi;
Editing by Alex Richardson)
Reuters Messaging:
balazs.koranyi.thomsonreuters.com@reuters.net))
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