ECB's Schnabel (Hawk) says ECB is still in a good place, but Iran war creates upside inflation risks; ECB must monitor persistence of energy price shock
Importance
Level 1
- Small and temporary inflation overshoot is of little relevance if expectations remain anchored.
- Post pandemic lessons suggest ECB must tread careful.
- With inflation projected to be at our target over the medium term and inflation expectations anchored, monetary policy remains in a good place.
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