• Prices should stabilise and gradually go down in 2022
  • Sees inflation at 3.2% this year
  • Sees some signs of stabilisation regarding supply chain problems

The headline remark pretty much says it all. As much as money markets are pricing in some rate move by the ECB, policymakers are in no way compelled to do so considering their current predicament. As for her comments on inflation, it is hopeful but time will tell if they will get that right (or wrong as they have been so far).