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MNI BRIEF: Focus On Services Prices Despite Mid-East -Escriva

Bank of Spain Governor Jose Luis Escriva talks about inflation.
BundesbankCentral Bank NewsPolicy NewsHomepageStoryCEEMEAEurozoneGermanyBriefGlobalEuropean Central BankRegion

MNI (LONDON) - The European Central Bank should focus on the most stable components of inflation like services and core, despite any movements in energy prices triggered by tensions in the Middle East, Bank of Spain Governor Jose Luis Escriva said in a radio interview on Thursday.

The most volatile elements of prices should be monitored but "are less relevant for interest rates criteria," he said, adding that factors such as these have provided positive surprises in the past months. (See MNI SOURCES: Chances Of October ECB Cut At Least 50-50)

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MNI (LONDON) - The European Central Bank should focus on the most stable components of inflation like services and core, despite any movements in energy prices triggered by tensions in the Middle East, Bank of Spain Governor Jose Luis Escriva said in a radio interview on Thursday.

The most volatile elements of prices should be monitored but "are less relevant for interest rates criteria," he said, adding that factors such as these have provided positive surprises in the past months. (See MNI SOURCES: Chances Of October ECB Cut At Least 50-50)