Simkus Stands Firm on Higher ECB Interest Rates

European Central Bank (ECB) Governing Council member Gediminas Simkus reaffirmed that increasing borrowing costs is more likely than holding them steady. In a radio interview with LRT on Friday, he repeated his previous stance: 'the probability that interest rates will increase is much higher than that they will not, I stand by that.'

This statement comes as the ECB continues to navigate its monetary policy decisions amidst an uncertain economic landscape. While Simkus' comments suggest a bias towards rate hikes, no official decision has been made yet.