Casimir says the European Central Bank may need to raise rates by 75 basis points in October

(Reuters) – Slovak Central Bank President Peter Casimir told a news conference on Wednesday that the European Central Bank may need to raise interest rates by another 75 basis points next month as inflation continues to be unacceptably high.

The European Central Bank has already raised interest rates by a combined 125 basis points in its last two meetings, the fastest pace of tightening ever, and has promised to raise rates at least until it reaches the “neutral” level, which neither slows nor stimulates growth.