Doha, Qatar: The European Central Bank (ECB) is "close to the peak" of its inflation-fighting interest rate increases, Bank of France governor Francois Villeroy de Galhau said Friday.
While eurozone central bankers' "options are open" between further rate rises or holding steady at their next meeting on September 14, "we are close or very close to the peak of our interest rates," ECB Governing Council member Villeroy told journalists at a Paris breakfast meeting.
The Frankfurt institution began rate increases in July last year to tame soaring inflation in the 20-nation eurozone, with eight hikes so far bringing them to 3.75 percent -- a level not seen since 2001.
Minutes from the governors' last meeting in July showed that they considered holding firm but ultimately decided on a 0.25-percent raise.
Whatever the decision this month "we are far from the moment where we can start thinking about lowering" interest rates, Villeroy said.
EU statistics agency Eurostat said Thursday that price growth held steady at 5.3 percent in August, far higher than the ECB's two-percent target.
