The ECB's Panetta today said that asking the ECB to bring down high inflation in the near-term would be 'extremely costly' as officials there move the goal-posts on their single mandate.
Over in Poland though, we get a sign of which way the wind is blowing. The central bank was expected to hike 50 bps with some calling for 75 bps but they went for the jugular by hiking its main interest rate to 4.50% from 3.50%.
