ECB Governing Council member Makhlouf: Rate hikes in 2023 will be smaller if necessary

ECB Governing Council member Makhlouf said the ECB may raise interest rates slightly next year if further increases are needed.

Makhlouf also said he was open to a rate hike at the December meeting. The market expects the European Central Bank to raise interest rates by 50-75 basis points at its December meeting. (Financial Associated Press)