The member of the Governing Council of the European Central Bank (ECB) and President of the Bundesbank, Jens Weidmann, He said in a speech on Friday that the central bank should not ignore the risk of too high inflation, and should remain vigilant, Reuters reported. He added that monetary policy should not commit to its current very expansionary stance for too long, and that to safeguard price stability, monetary policy as a whole will have to normalize.
Weidmann said that High inflation rates will likely take longer than previously projected to recede and that the pandemic could have a marked impact on fixing inflation. That could mean that inflation will no longer be below the ECB’s symmetric 2.0% target in the medium term, he added.
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