July 28, 2023 at 4:26 AM EDT

European Central Bank Governing Council member Gediminas Simkus said a potential pause in monetary tightening in September wouldn’t indicate that interest-rate hiking is over.

“A pause in September doesn’t mean there won’t be hikes going forward,” Simkus told reporters on Friday in Vilnius. “Perhaps there will be a pause in September, but we may need to hike again in October.”

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ECB’s Simkus Says September Pause Wouldn’t Mean Hikes Over