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The European Central Bank (ECB) Governing Council member Klaas Knot has stated that upward inflation pressures are now driven by internal factors. Knot also mentioned that the ECB has a long road ahead on disinflation and that financial stability is crucial for price stability. He further added that a lot of the tightening effects are still in the pipeline and that the ECB's policy is currently in a good place. Knot emphasized that the ECB stands ready to adjust rates further if disinflation stalls and that the pass-through of shocks to services prices takes more time. He also noted that restrictive policies will be needed for some time and that there is a disinflation trajectory ahead. Knot's comments come as inflation shocks are said to be in retreat, although officials remain prepared to intervene if necessary. The full story can be found in the provided link.
🔴 ECB'S DE COS: A SIGNIFICANT PART OF TRANSMISSION IS STILL TO COME.
ECB Governing Council member Klaas Knot says inflation shocks are now in retreat, though officials stand ready to step in again if needed https://t.co/GCTT6y5714
ECB Governing Council member Klaas Knot says inflation shocks are now in retreat, though officials stand ready to step in again if needed https://t.co/0xhpN4PTwT
ECB Governing Council member Klaas Knot says inflation shocks are now in retreat, though officials stand ready to step in again if needed https://t.co/G8PRH7XVtO
ECB has long road on disinflation but in a good place now: Knot https://t.co/CdSDRsC6P8 https://t.co/HFhjRaOGlx
⚠️ ECB HAS LONG ROAD ON DISINFLATION BUT IN A GOOD PLACE NOW: KNOT Full Story → https://t.co/8YiIIFshy9 https://t.co/XE6Gz1KHz5
🔴 ECB'S KNOT: WE HAVE A DISINFLATION TRAJECTORY AHEAD OF US.
🔴 ECB'S KNOT: A LOT OF THE TIGHTENING EFFECTS ARE STILL IN THE PIPELINE.
🔴 ECB'S KNOT: WE STAND READY TO ADJUST RATES FURTHER IF DISINFLATION STALLED.
🔴 ECB'S KNOT: POLICY IS IN A GOOD PLACE NOW.
🔴 ECB'S KNOT: WE HAVE A LONG ROAD AHEAD ON DISINFLATION.
🔴 ECB'S KNOT: FINANCIAL STABILITY IS A CRUCIAL CONDITION FOR PRICE STABILITY.
🔴 ECB'S KNOT: RESTRICTIVE POLICIES WILL BE NEEDED FOR SOME TIME.
🔴 ECB'S KNOT: THE PASS THROUGH OF SHOCKS TO SERVICES PRICES TAKES MORE TIME.
🔴 ECB'S KNOT: UPWARD INFLATION PRESSURES ARE NOW DRIVEN BY INTERNAL FACTORS.
🔴 ECB'S KNOT: THE MEDIUM TERM GROWTH OUTLOOK IS MORE FAVOURABLE.