ECB's September Rate Hike May Not Be Enough: Gediminas Simkus

The European Central Bank (ECB) is expected to raise interest rates next week, but according to ECB Governing Council member Gediminas Simkus, this hike may not be enough to get inflation back on track.

In an interview published Tuesday, Simkus stated that 'all the data currently available lead me to think that it's very likely that we will hike, and that this September hike is not going to be enough.'

Simkus' comments suggest that the ECB may need to consider further rate hikes to tackle inflation, which remains above target.