- We will not let ths pahse of high inflation feed into economic behaviour and create a lasting inflation problem
- IF there were evidence that high inflation risk de-anchoring inflation expectations, the the policy rate that is compatible with our target would lie in restrictive territory
- Where rates ultimately settle will depend on how the inflation outlook evolves
- Inflation expectations remain relatively well anchored
- If energy prices are durably higher during the transition in may have an implact on industrial production
- Moving faster at the start of the hiking cycle clearly conveys our commitment
- Terminal rate must be compatible with returning inflation to target
I don't see any special hints here on rates but today's German PPI report has to be causing some major angst at the ECB. The days of saying there won't be a recession are over.
