Bank of Spain governor and European Central Bank Governing Council member Pablo Hernández de Cos speaking in Madris, crossing the news wires:

  • The European Central Bank must avoid both insufficient and excessive tightening.

  • If rates are kept at 4% long enough, we should reach our 2% goal.

  • Governments must roll back their energy support measures - and if new measures on energy are need they should be targeted
  • We need

    structural reforms to strengthen the supply side

  • Fiscal policy for 2024 should tend toward restrictive
ECB's de Cos
ECB's de Cos

more to come