Reduction Of Public Debt And The Fight Against Inflation As The Priorities Of The ECB

European Central Bank (ECB) Governing Council member Gabriel Makhlouf said on Thursday that “raising interest rates is absolutely necessary.”

“Reducing public debt 'should remain a key priority', Makhlouf added.

He warned that “persistent inflation is damaging to economic stability.”

Market reaction

EUR/USD was last seen trading at 0.9986, 0.11% higher on the day.