European Central Bank Governing Council member Klaas Knot (pictured) said on Monday that the ECB has to be "in there for the long game" while raising interest rates due to elevated inflation.
The president of Dutch central bank De Nederlandsche Bank (DNB) also told the Financial Times that the rate hiking process is "at the beginning of the second half" and that "quite a decent pace of tightening" should be expected in five monetary policy meetings until July 2023.
The ECB will "evaluate the effects of our tightening" in 2023 and determining when to stop rate hikes will be its "main challenge" as a lot "depends on the depth" of the incoming recession, according to Knot.
