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.
Key quotes
Monetary policy needs to be well calibrated.
Inflation is far from adverse & severe scenarios.
No signs pointing to a scenario of stagflation.
Risk of economic stagnation and sharp inflation rise is rather remote.
Market reaction
At press time, the EUR/USD pair trades 0.04% lower at around 1.1675.
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