Volker Wieland: "ECB raised interest rates far too late" (n-tv)

According to Prof. Volker Wieland, the European Central Bank (ECB) reacted far too late to rising inflation rates, which were already foreseeable in 2021. In the last interest rate meeting of the year, Wieland would have liked to see an interest rate step of 75 basis points instead of 50, he said in an interview with Friedhelm Tilgen of n-tv in the special "What will become of our money?"

"The ECB must ensure that core inflation does not become entrenched," Wieland warned. To do this, he said, it must raise interest rates further so that the real interest rate, i.e., nominal interest minus inflation expectations, moves into positive territory. At the moment, this is still clearly negative, Wieland said.According to Wieland, it makes no sense to commit now to what interest rate level will be sufficient. "The ECB has to steadily raise interest rates until inflation comes down sustainably." Unexpected inflation erases purchasing power, he warned.The ECB decided on December 15 to raise interest rates for the fourth consecutive time. The key interest rate in the euro area thus rose to 2.5 percent.

n-tv: "Zinserhöhungen - EZB ist viel zu spät gekommen"