ECB's Cipollone: Risk of economic stagnation and sharp inflation rise is rather remote
European Central Bank (ECB) Executive Board member Piero Cipollone said that the risk of economic stagnation and a sharp increase in inflation due to the crisis in the Strait of Hormuz is rather remote, Reuters reported on Monday.
Piero Cipollone, a member of the European Central Bank's Executive Board, stated on Monday that the likelihood of economic stagnation and a sharp rise in inflation due to the Strait of Hormuz crisis is rather low, according to Reuters. The central banker emphasized the importance of calibrating monetary policy, noting that inflation is currently far from adverse and severe scenarios.
There are no indications pointing towards a scenario of stagflation. The risk of economic stagnation and a sharp increase in inflation remains remote.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
