ECB's Knot says he is uncertain where and when rate hikes will end

European Central Bank (ECB) governing council member Klaas Knot on Thursday said it remained to be seen how far rate hikes by the ECB need to go to effectively bring down inflation.

"Market expectations are that we will raise rates up to 3% in the first half of next year, and that they will go down from the second half of 2023. In all honesty, I'm not sure about that," Knot said at a hearing in Dutch parliament.