AMSTERDAM, Nov 22 (Reuters) - The current spike in inflation is no reason for the European Central Bank (ECB) to rethink its interest rate policy, as inflation is still expected to slow towards the end of next year, ECB policymaker Klaas Knot said on Monday. "Interest rates will rise once inflation continues to exceed expectations in the time to come. But at the moment we have no reason to believe this will be the case", Knot said in an interview with Dutch TV programme Nieuwsuur.