Austrian Central Bank Governor Robert Holzmann has said that the European Central Bank (ECB) could implement one or two further interest rate increases if there are "additional shocks" to the economy. However, if things go well, the hiking cycle could end. Holzmann also stated that there is still an upside risk to inflation, and it is still uncertain how long it will take to achieve the desired inflation level. The ECB raised interest rates to a record in September but indicated that further hikes may be off the table for now.

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