The member of the Governing Council of the European Central Bank (ECB), Olli Rehnsaid could start raising interest rates in July to ensure inflation expectations remain anchored while speaking in an interview in Austria.
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“We are seeing signs of second-round effects.”
“It is iIt is important that we send a signal that these higher inflation expectations that we are currently witnessing will not consolidate”.
“It is reasonable that, in my opinion, in July we start raising rates in accordance with our normalization of monetary policy. Y I would hope that when autumn comes, we will be at zero”.
What we would have in our toolbox in reserve is a kind of instrument that would help counteract a possible unjustified fragmentation of financial conditions in Europe”.
“We are seeing some stagflation trends.”
Source: Fx Street
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