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Centeno says ECB needs to keep monitoring inflation, stand ready to act By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO: Mario Centeno, a member of the European Central Bank’s governing council, speaks to Reuters during a interview in Lisbon (Portugal), March 15, 2021. REUTERS/Pedro Nunes

LISBON (Reuters) – Lingering uncertainty about rising inflation requires close monitoring by the European Central Bank, which sees it as a temporary trend, but it must be prepared to act flexibly, ECB Governing Council member Mario Centeno said on Thursday.

At an online conference held in Lisbon, Centeno stated that “Concerning the Monetary Policy the Best Answer to Uncertainty is to Keep Close Monitoring, A Steady Hand and Be Ready to Act flexibly” and added that tools were available for the bank to react “with agility, effectiveness and sensitivity”.

According to him, the growth rate in the euro zone was set to increase rapidly. This is in addition to inflation exceeding projections in the fourth quarter. However, this spike in inflation can still be considered temporary.

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