An Ennis financial advisor is warning the European Central Bank could be employing a ‘dangerous’ tactic by continuing to raise interest rates until the rate of inflation returns to normal.
It comes as there was an increase in the rate of inflation in February after falling for four consecutive months – coming in at 8% compared to January’s 7.5% rate.
However, the Finance Minister Michael McGrath still believes inflation will average between 4 and 5 per cent across the year.
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Tommy Corbett of Carey Corbett Financial Solutions, says the ECB could ‘over-egg’ it by not allowing time for interest rate hikes to have an impact on inflation.
Listen back to the full interview below:
