ECB's Elderson: Must ensure that high inflation doesn't become entrenched

Joel Frank Independent Analyst

European Central Bank Executive Board Member Frank Elderson said on Friday that the ECB must ensure that high inflation doesn't become entrenched in people's expectations, reported Reuters. Weaker economic data so far doesn't suggest that the Eurozone is entering a recession, he added.

Elderson's remarks come after a series of hawkish remarks from other ECB officials earlier in the day. German central bank head Joachim Nagel said that the window for the ECB to take monetary policy measures was slowly closing. France central bank head Francois Villeroy de Galhau said it is “reasonable to raise rates into positive territory by the year-end.”

Author

Joel Frank

Independent Analyst

Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset

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