ECB may need to lift rates by 75 basis points in Oct, Kazimir says

(Reuters) – The European Central Bank may need to raise interest rates by another 75 basis points next month as inflation remains unacceptably high, Slovak central bank chief Peter Kazimir told a news conference on Wednesday.

The ECB already lifted rates by a combined 125 basis points at its past two meetings, the quickest pace of tightening on record, and promised further rate hikes at least until it reaches the “neutral” level, which neither slows nor stimulates growth.

(Reporting by Rober Muller; Writing by Balazs Koranyi; Editing by Alison Williams)