- Tackling inflation is our top priority. We have hiked interest rates at a record pace and are starting to shrink our bond holdings. And we will stay the course in raising interest rates to bring inflation back to our 2% target in a timely manner.
- Further rate hikes will help bring inflation back to our target, which – given nominal wages – will increase real wages
- Fighting high inflation we are supporting the sustainable growth of the euro area economy. The war has made us all worse off, but we’re doing our best to limit the consequences
- We need to counter high inflation by tightening monetary policy. At the moment, new lending operations, even if green, are not in line with our price stability mandate. Bringing inflation back to target is our best contribution to the green transition.
- We and many other forecasters underestimated the persistence of inflation caused by energy price shocks, supply chain disruptions and strong demand. We are doing everything we can to bring inflation back to our 2% target in a timely manner.
- Housing costs matter for people’s expenditures but are only partly included in the inflation index. In our strategy review we recommended to better reflect housing costs in the future
Schnabel is doing an #AskECB Q&A so the questions and answers are somewhat generic.
