The impact of war looming over Europe has clouded global economic prospects, he said on Thursday. Elizabeth Schnabel, member of the executive board of European Central Bank.
Additional statements:
“The uncertainty speaks in favor of a gradual and data-dependent normalization.”
“Reversing the current exceptional measures has the potential to mitigate inflationary pressures.”
“Ending net asset purchases when inflation is solidly converging to our target also credibly underscores that our actions are guided solely by our mandate, refuting concerns about fiscal dominance.”
“Inflation has proven to be more persistent and broader based than expected.”
“The slack in the labor market is being reabsorbed at a faster rate than anticipated and pressures on pipelines continue to mount.”
“Our sequence is clear.”
“Not only is inflation higher than expected, but price pressures are also visibly widening.”
“Current measured inflation would be even higher if owner-occupied housing costs were included.”
“The widespread nature of the recent surprises to the upside means that there remains a great deal of uncertainty about when peak inflation will finally be reached.”
“Inflation is unlikely to fall below our 2% target again this year.”
“A faster and earlier recovery, in turn, risks increasing pressure on wages.”
“We are currently witnessing the strongest labor market in the history of the single currency.”
“It is now increasingly likely that, over the medium term, inflation will approach our 2% target from above, rather than from below.”
Source: Fx Street
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