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The interest rate will be more than three and a half percent: Central Bank

Dublin: Central Bank Governor Gabriel Makhlouf said that interest rates will exceed 3.5 percent. Makhlouf believes the European Central Bank’s interest rate could rise above 3.5 percent. He also stated that the bank is unable to lower interest rates because inflation must be brought under control.

To control the cost of living in the eurozone, the ECB has raised interest rates to 3% so far. As a result, the deposit rate reached 2.5%. There are indications that the Governing Council will decide to raise interest rates by 0.5% at its meeting next month.

Speaking at an event in Berlin, Governor Gabriel Makhlouf said that inflation will be brought under control and that all measures will be taken.

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