The European Central Bank will raise interest rates in the future if December's hike isn't enough to cap inflation, Bank of Greece governor and ECB Governing Council member Nicholas Garganas said Monday. "If we see that the 25-basis-point hike isn't enough to keep inflation in check, we will raise rates again," Garganas said in the port city of Piraeus. Garganas repeated comments he made Dec. 12, when he said that the ECB's governing council hasn't decided in advance to proceed with a series of interest rate hikes. Any future rate hikes will depend on the threat to price stability, he said.