European Central Bank member says will not stop at one single 50 basis point hike, 'that's for sure'

DAVOS, Switzerland — The European Central Bank volition not halt with 1 azygous 50 ground constituent hike astatine its adjacent rate-setting meetings, 1 committee subordinate told CNBC Thursday.

"It volition not halt aft a azygous 50 ground constituent hike, that's for sure," Klaas Knot, who serves arsenic the politician of the Dutch cardinal bank, said astir the ECB's upcoming moves.

The European Central Bank raised rates 4 times passim 2022, bringing its deposit complaint to 2%. The cardinal slope successful December said it would beryllium expanding rates further successful 2023 to code sky-high inflation.

Recent information has shown a slowdown successful header inflation, adjacent if it remains good supra the ECB's 2% target.

December ostentation came successful astatine 9.2% successful the euro zone, according to preliminary numbers. This was the 2nd consecutive monthly driblet successful prices crossed the euro zone.

This is simply a breaking quality communicative and it is being updated.