ECB interest rates are at good ‘cruising altitude’, ECB’s Knot says

AMSTERDAM, Nov 2 – The European Central Bank (ECB) will likely keep interest rates at their current levels in the coming months, as it waits for further confirmation that inflation is on a downward trend, Dutch ECB governing council member Klaas Knot said on Thursday.

“Personally, and conditional on incoming data confirming the latest projections from September, I see the current level of our policy rates as a good ‘cruising altitude’ where they can remain for some time,” Knot said in a speech in Amsterdam.

“In my view, refinancing operations represent the most efficient tool to provide such a level of reserves down the road.”