ECB: Inflation likely to stay above target well into next year - Breaking The News

ECB: Inflation likely to stay above target well into next year

20 June

1 min read

EPA-EFE/JULIEN WARNAND

The European Central Bank (ECB) stated in its latest Economic Bulletin on Thursday that inflation is likely to stay well above the target even next year. At the same time, the institution stated that it would maintain policy rates at sufficiently restrictive levels for as long as necessary to achieve this goal.

"In particular, the interest rate decisions will be based on the Governing Council's assessment of the inflation outlook in light of the incoming economic and financial data, the dynamics of underlying inflation, and the strength of monetary policy transmission. The Governing Council is not pre-committing to a particular rate path," the ECB said.

In addition, the ECB confirmed a monthly reduction in the Eurosystem's holdings under the pandemic emergency purchase program (PEPP) by €7.5 billion in the second half of the year.

inflation ecb monetary easing

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