Simkus Warns ECB Rate Hike Won't Be Enough for Inflation Target

Gediminas Simkus, a member of the European Central Bank's Governing Council, believes that a rate hike in September will not be enough to get inflation back on track.

In an interview published on Tuesday, Simkus stated that all available data suggest a rate increase is likely next week, but this move may not be sufficient to achieve the target inflation level.

Simkus emphasized that 'it's very likely that we will hike, and that this September hike is not going to be enough.'