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Lagarde gains key allies for rate hike plans

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© Reuters. FILE PHOTO: European Central Bank (ECB) board member Klaas Knot appears at a Dutch parliamentary hearing in The Hague, Netherlands September 23, 2019 REUTERS/Eva Plevier

DAVOS (Reuters) – Dutch central bank chief Klaas Knot, among the most conservative members of the European Central Bank’s Governing Council, said he fully supported ECB chief Christine Lagarde’s proposed schedule for interest rate hikes.

“Our president has issued a blog on how policy would respond to (inflation),” Knot said. “I’m fully on board, I fully support everything that is in the blog, I think it nicely charts the policy course.”

Lagarde earlier this week said the minus 0.5% deposit rate should start rising in July and could be at zero or “slightly above” by the end of September.

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