European Central Bank Executive Board Member Panetta explains the reasons for raising interest rates, emphasizing that no path is pre-set

```htmlGolden Ten Data reported on May 29 that European Central Bank Executive Board member Panetta acknowledged the necessity of raising interest rates, while also urging colleagues not to prematurely signal further tightening measures. Panetta pointed out that the ongoing Iran war, rising inflation expectations, depletion of fuel inventories, and the risks of other supply disruptions all indicate the need for some action. He stated, "From a forward-looking perspective, it seems necessary to recalibrate the monetary policy stance to address the risk of persistent inflationary pressures." However, he also warned, "It remains essential not to be constrained by a predetermined path."```