ZURICH, Reuters – Robert Holzmann (hawkish policymaker) told Salzburger Nachrichten that the European Central Bank should raise interest rates by as much as three times in order to fight inflation.

“I believe that it would be appropriate for at least two, or even three steps. You could make these smaller, for example. These could be smaller, i.e. 0.25 percentage points. This would mean that deposit rates at banks would rise to positive territory by 2023, even if it happened by December,” an Austrian central banking governor said.

You’re still quite far from the nominal natural interest rate. We still have a lot of work to do. It would still be a positive signal for the public.