- Expects German inflation to be significantly above 4% this year
- Says economic costs of acting too late are significantly higher than acting too early
- The first step would be to end bond purchases, then rates could already rise later in the year
Those are some strong words but I reckon we'll already get a better sense of things once the ECB lays out their plans and outlook in the March meeting. In any case, he's not really confirming nor denying a quick approach to normalising policy around June/July - which is what the market is looking for at the moment.
