ECB policymakers announced that ECB is willing to keep hiking the interest rate despite the hardships the economy is facing in the euro zone, but things would be distressed more with high inflation.

The high pace of the interest hike is aimed to restore the inflation rate back to its target at 2%.

It is highly predicted that the economy in the euro zone will diminish during the winter period as the energy costs will peak and we will also witness peaked borrowing costs and slumped demand worldwide.

ECB vice-president Luis De Guindos and Bundesbank president Joachim Nagel supported the trim of the ECB's bond holdings that worth multi-trillion-euro, piling up in the last decade back then when inflation was not that high.

Markets forecasts upon the interest rate, is that ECB will keep hiking the rates till the mid of the upcoming year with 3% from the current 1.5%.