In an article appearing on Bloomberg.com, the ECB member Guy Quaden has hinted as a possible interest rate hike that might soon be announced. This will be a second rate hike in a matter of months if this occurs.
Quaden outrightly stated that he feels that interest rates cannot forever remain low, but would “not return to the high rates of the 1980’s.”However, this news is not being welcomed by many people in the EU countries. Many of these countries had wanted to start the New Year in a stable manner, before the cost of borrowing is increased.
Quaden also went on to say that if the interest rates are increased, many of the European Union countries will be able to adjust, and that it was “important for the EU to keep pace with inflation.”
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