The member of the board of the ECB, Pablo Hernandez de Cos, stated that any future tightening of monetary policy will be gradual and will depend on the new macroeconomic data.
“The degree of uncertainty is high and any normalization of monetary policy must be gradual,” De Cos said at an economic event in Bilbao.
On Monday, ECB President Christine Lagarde said there was no need for a major tightening of monetary policy in the eurozone, as inflation is expected to fall and could stabilize at around 2%.
Highlighting rising inflation risks, the ECB opened the door last week to raising interest rates later in 2022 and said the March 10 meeting would be crucial in determining how quickly the central bank will end its long-term bond-buying plan. is a cornerstone of efforts to stimulate the economy.
Source: Capital
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