- We expect inflation to remain undesirably high for some time
- Wage growth has continued to increase gradually
- Depreciation of euro also causing inflation
- Supply bottlenecks should ease in the months ahead
- "Ongoing policy normalization" should help to support return to price stability
- There is a robust demand for labour
- Outlook clouded for growth in H2 and beyond
- War an ongoing drag
- Most measures of core inflation have risen
- Expect inflation to be undesirably high for some time
EUR/USD is up 81 pips to 1.0258 and has edged lower since she began to talk.