Some remarks overnight from European Central Bank Governing Council member Francois Villeroy de Galhau

Trotting out the transient inflation story again, very familiar to us by now:

  • the recent strength of inflation is temporary
  • no doubt' inflation rate to fall below 2% by 2023
  • no doubt ECB needs to keep policy accommodative

Also, this time from the BIS ( Bank for International Settlements ... this is a financial institution owned by central banks) with a research piece on

  • "There will be higher inflation for some time, but that I don't think will alter the fundamental picture" of it being transitory
  • "Having said that of course, one should always remain vigilant."

These remarks from the BIS' Claudio Borio, head of the BIS's monetary and economic department. His comments out overnight also.