ECB's Makhlouf says while there are important differences today compared to 2022 energy shock, we must be wary of complacency; need to be alert to the risk of inflation expectations becoming disanchored more quickly than before

Makhlouf's comments highlight ongoing concerns about inflation, noting that while current energy dynamics differ from the 2022 shock, complacency could lead to more rapid inflation expectations detachment. This suggests that the ECB remains vigilant about policy implications, potentially impacting interest rate projections and market sentiment as investors weigh these inflation risks against growth.