Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
Reporting on key macro data at the time of release.
- Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
- MNI ResearchMNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
- About Us
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.Free Access
Sign up now for free access to this content.
Please enter your details below and select your areas of interest.
The spike in euro area inflation has been largely driven by pandemic-related factors that will fade out and in some cases disappear in 2022, Bank of Spain Governor Pablo Hernandez de Cos said in speech Monday, calling for patience and continued monetary accommodation.
While inflation has proved longer lasting than expected, he said there are as yet no indications that Europe is about to enter an inflationary spiral driven by higher end-prices and wage settlements.
There is only a very small likelihood of any inflationary surge such as that which followed the 1970s oil price crisis, he said, though he added: “that episode should serve as a reminder that economic authorities must be careful when finding the necessary balance between providing patient support to the recovery and simultaneously preserving the capacity to act swiftly should it prove necessary.”
As MNI has reported, higher inflation has already spurred more hawkish ECB officials to argue for more restrained monetary stimulus into next year.