Comments from the Governing Council member
- Expects inflation to fall below 2% towards the end of 2022 but must prepare for upside scenarios
- ECB shouldn't make long-last and unconditional commitments once PEPP ends, must keep optionality
- Inflationary pressures from higher energy prices and supply bottlenecks are lasting longer than initially thought
It looks like the next fight will be over optionality once the PEPP ends in March.
