ECB's Makhlouf: ECB will not respond to a temporary shock in inflation

Remarks by ECB policymaker, Gabriel Makhlouf

• ECB must be prepared to react if inflation is entrenched
• Economic outlook is optimistic
• But must be aware of possibility that supply disruptions may keep persisting

Nothing new here from Makhlouf as it mainly reaffirms the current line of thinking by the ECB that inflation remains 'transitory', although Lagarde did concede some light ground with her remarks yesterday here.