- We will make sure inflation gets back to target over the medium term
- High inflation is a major challenge
- Conditions are in place for economy to continue to grow
- "inflation pressures have intensified"
- "inflation will remain undesirable elevated for some time"
- Governing council will retain optionality
- Initial signs of inflation expectations above target warrant monitoring
- The war is a big downside risk to growth
- Wage growth has started to pick up
- War and pandemic in China has made supply bottlenecks worse
- Near term activity is to be dampened by high energy costs
- If demand were to deteriorate it would dampen prices
- Risks to inflation primarily tilted to the upside
- Prices rises are becoming more widespread
The euro has extended gains to 1.0767 as her early comments and forecasts cross.
