'Absolutely necessary' to raise interest rates to tame inflation - Makhlouf

It is expected the October rise will be at least 50 basis points but could also be a repeat of the September increase

Gabriel Makhlouf: 'history has taught us that these issues will only be exacerbated if we delay action.'

The Governor of the Central Bank has said it is "absolutely necessary" for the European Central Bank (ECB) to raise interest rates.

Speaking in Dublin yesterday, Gabriel Makhlouf said a pivot to further tighten monetary policy has been necessary, as "history has taught us that these issues will only be exacerbated if we delay action".