Catching up on weekend news.
ECB Executive Board member Frank Elderson spoke in an interview on Dutch television on Sunday
- said more hikes from the ECB to come
- "it’s very important that the expectations that the people have on how the inflation will develop in the medium to long term will not become deanchored”
- “It is vital that people and companies or actors in the economy in general maintain their trust that we as the ECB will reach our of target of 2% inflation”
- “getting the inflation development under control again -- and that is a shared belief within the ECB council, in my opinion.”
On the risks to the economy:
- “In the end, stable prices are much more important for medium-term, long-term growth, for a good outlook for the euro area”
Only expecting a shallow impact on the economy:
- “We may need to overcome a dry spell, but for now at least it looks like this dry spell and the decline in economic output will not be severe.”
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These guys ... views job losses and associated damage to families and the economy as a 'dry spell'. Sheesh.
