After the head of the Fed Powell unexpectedly changed his position on inflation this week, European economists said that ECB policymakers should follow Powell's example.
Powell said that against the background of the continued growth of inflation, the Fed should stop talking about its acceleration as a temporary phenomenon.
The data show that inflation is currently above the target levels of Central Banks, as a result of which there are doubts about the feasibility of applying a soft monetary policy, including in the eurozone.
George Buckley, chief economist at Nomura, said it is still unclear whether the higher inflation rate in the eurozone - in November it reached a historic high of 4.9% per annum - will leave a more permanent mark on the economy.
The ECB's current forecasts suggest a decrease in the inflation rate next year (to 1.7% from 2.2% in 2021), which indicates the need to apply the current soft policy. However, it is likely that the high level of inflation will persist longer than the ECB forecasts, against the background of a significant increase in energy prices, disruptions in the supply chain and the emergence of a new strain of coronavirus.
"The ECB should report in more detail on short-term one-time factors and potential long-term factors contributing to the growth of inflation," said Carsten Brzeski, an expert at ING Research.
Meanwhile, Frederic Ducroze, strategist at Pictet Wealth Management, believes that the ECB will continue to signal the possibility of lower inflation next year, but may also point to upward risks.