Prof. Volker Wieland believes that further interest rate hikes are appropriate for the euro zone. With regard to the United States, he told the Börsen-Zeitung that there had been some signs of a turnaround in core inflation, even if this rate of inflation excluding energy and food was only falling very slowly. In the euro zone, on the other hand, core inflation is stagnating at a high level, and there are signs of continuing wage pressure.
As the relevant central bank rate, the deposit rate of 3.75% is still well below the current inflation rate of 5.3% or the core rate of 5.5%, he said. "In that sense, the real interest rate is still clearly negative," Wieland said. "I think the ECB would be better off moving the central bank rate closer to 5%, a level that the U.S. Fed has already exceeded."
Börsen-Zeitung: "Top-Ökonomen uneins über Kurs von Fed und EZB"