ECB policymaker Primoz Dolenc said the European Central Bank may need to keep raising interest rates because inflation risks are tilted to the upside. According to NS3.AI, Dolenc said the timing and size of any additional increases remain too uncertain to forecast and will depend on incoming data at each meeting. The ECB has raised its deposit rate twice this year to 2.5%. Dolenc said inflation data indicate that high energy costs have had limited spillover into other goods and services and do not suggest a second-round effect on wages. He also said monetary policy is still transmitting efficiently to the economy, with no destructive impact from higher yields on other parts of the economy.