It’s unclear whether the European Central Bank has lifted borrowing costs to their peak, with the persistence of inflation meaning further hikes can’t be excluded, according to Governing Council member Robert Holzmann. The hawkish Austrian official listed threats to the retreat in euro-zone consumer prices including wage negotiations and the rising cost of oil. “There are shocks out there which may force us to go higher,” Holzmann told a Bloomberg event Tuesday in Vienna. “Inflation needs to be kept under control and that’s what we’re here for.” The remarks come as investors become increasingly convinced by the ECB’s ... (full story)