Title: ECB's Knot backs Lagarde's rate hike plans

May 25, 2022 06:15AM ET

By: AnalysisWatch

The Dutch central bank chief, Klaas Knot, who is among the most conservative members of the Governing Council, said he fully supports ECB chief Christine Lagarde's proposed timetable for rate hikes.

"Our president laid out in a blog how policy would respond to (inflation)," Knot said. "I am fully on board. I support everything in that blog. I think it describes the policy course very well. "

Lagarde said earlier this week that the deposit rate of minus 0.5% could begin to rise in July and be zero or "slightly above" by the end of September.