According to CoinMeta, ECB Governing Council member Klaus Nolt stated that the European Central Bank (ECB) may need to continue to maintain a hawkish stance and be vigilant against inflationary shocks. He pointed out that core inflation could rise accordingly, with a second round of transmission effects occurring in the prices of goods and services in the consumer basket, which could pose problems for the ECB. Nolt emphasized that the ECB will continue to face some small-scale shocks that will push up inflation, and at that time, a certain degree of hawkish monetary policy stance must be adopted to deal with them. The ECB has already raised interest rates twice before, and the market generally expects it to raise rates again in December. Data released on Wednesday showed that the inflation rate in the eurozone rose to 4% in October, reaching its highest level in three years.