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Michael McGrath warns European Central Bank of ‘real life’ impact of interest rate hikes

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While McGrath said he isn’t seeking to tell the ECB what to do, it is unusual for finance ministers to offer even thinly veiled commentary on monetary policy

Michael McGrath, the Minister for Finance, said the European Central Bank should be cautious of the impact on firms and households of raising interest rates, and called on businesses to play their part in fighting inflation by cutting prices.

“The monetary authorities have very difficult decisions to make in relation to interest-rate policies,” McGrath said as he arrived for a second day of meetings outside Stockholm between finance ministers and ECB officials including President Christine ...

 

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