Remarks by ECB policymaker, Pablo Hernandez de Cos
- Will closely monitor inflation performance
- Currently not seeing second round inflation impact
Basically the same mantra that they have been repeating for many a time now but there is at least some acknowledgment that inflation may "surprise" them. We'll see how things go in the months ahead but I reckon we'll be headed towards a more challenging test of their patience/resolve rather than the other way around.