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ECB’s Centeno warns of inflation uncertainty, urges caution -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Mario Centeno (European Central Bank governing board member) speaks with Reuters at Lisbon, Portugal on March 15, 2021. REUTERS/Pedro Nunes/File Photo

LISBON, (Reuters) – Mario Centeno, a member of the European Central Bank Governing Council warned Monday that there is uncertainty around inflation and that it requires constant monitoring. However, he added that price rises should be avoided because new anti-COVID 19 locks in Europe are not necessary.

Reporters were told by him that the consequences of rising infection rates, such as confinement, are alarming, but should not cause an increase in inflation.

He added, “We need to be cautious.”

Sources close to the discussion told Reuters that the ECB’s policy makers met last week in an effort to acknowledge inflation risks more. However, the bank is sticking with the narrative that prices will fall back below its target level by late 2022.

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