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MNI BRIEF: Inflation Outweighs Stability Risk - ECB's Muller

(MNI) London

The European Central bank opted to hike interest rates by half a point on the basis of recent data showing the European economy is in relatively good shape, and amid strong price pressures despite signs inflation is slowing, Bank of Estonia governor Madis Muller wrote in a blog post Friday (see MNI SOURCES: ECB Clings To 50Bp Hike Plan Amid Market Turmoil).

Headline inflation is expected to reach 5.3% for this year and to 2.9% in 2025, clearly faster than the central banks target of 2%, while core inflation shows no sign of abating. “Also, the realisation of the economic forecast requires higher than current interest rates,” Muller said.

”Risks that may be hidden in the financial sector must also be taken seriously in the euro area,” he said. However, “the biggest risk for the European Central Bank right now is that we do too little to curb the rapid rise in prices.” (see MNI POLICY: ECB Dissenters Looked For Hold, Not Smaller Hike).
MNI London Bureau | +44 20 3983 7894 | luke.heighton@marketnews.com
Policy NewsCentral Bank NewsHomepageEuropean Central BankRegionCEEMEAEurozoneBriefStoryRegulation
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MNI London Bureau | +44 20 3983 7894 | luke.heighton@marketnews.com
Policy NewsCentral Bank NewsHomepageEuropean Central BankRegionCEEMEAEurozoneBriefStoryRegulation
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