Marcelo says ECB should rethink jumbo hikes in interest rates
Archive image: Horacio Villalobos/ Lusa

Marcelo says ECB should rethink jumbo hikes in interest rates

Portugal’s head of State Marcelo Rebelo de Sousa has said that, in his opinion, the ECB (European Central Bank) should reconsider the “galloping rise in interest rates” by the end of the year. The bank’s president Christina Lagarde announced the increases today, saying more will come until inflation has been brought under control. Talking to reporters at the Calouste Gulbenkian Foundation today, Marcelo simply said the ECB’s strategy “could be the wrong option” at this point. “Increasing interest rates at this rate to cure the patient, may end up harming his health”, he said. That’s what deserves to be thought about next month, in the coming months, before we get to 2023.”