ECB's Simkus says inflation is too high in both the EU and Lithuania

Statements framing inflation as too high, without reference to a preferred policy response, fit the pattern of hawkish officials keeping optionality open rather than pre-committing; in past cycles, council members in that posture have used such language to resist market pricing of easing rather than to signal an imminent action. The reference to both the euro area and Lithuania is consistent with Baltic governors' long-running emphasis on domestically driven price pressures, a recurring split inside the council between members focused on services and wage persistence and those focused on weak growth. The distinction worth drawing is whether this tone remains confined to the known hawks or starts appearing in commentary from the council's centre, which is what has historically moved the front end rather than remarks from the tails. The follow-ons are whether other officials echo the framing and how it reads against the staff projections and the next inflation prints.