ECB has 'long way' to go with rate hikes, Knot says

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November 18, 2022 9:05 AM EST

FILE PHOTO: ECB board member Klaas Knot appears at a Dutch parliamentary hearing in The Hague, Netherlands September 23, 2019 REUTERS/Eva Plevier/File Photo

FRANKFURT (Reuters) - The European Central Bank still has a "long way" to go before interest rates peak, as inflation could also take an extended period to come down, Dutch central bank chief Klaas Knot said on Friday.

"We still have a long way to go," Knot said when asked where rates could peak.

"As long as we are confronted with monthly upward surprises in inflation, as long as measures of underlying inflation are picking up 0.2%, 0.3% every month, I'm more worried about us doing too little, than I am about us doing too much," he added.

(Reporting by Balazs Koranyi; Editing by Francesco Canepa)


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