ECB: “Better Late than Never”
ifo President Clemens Fuest has welcomed the European Central Bank’s decision to raise interest rates. “Better late than never,” he said in Berlin on Thursday. “The 0.75 percent increase is a step in the right direction. Nevertheless, monetary policy remains very expansionary. Over the coming months, further interest rate increases will have to follow. Interest rates are still very low, and private households’ inflation expectations are constantly climbing higher. The…