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Ekonomické zprávy
06.02.2023

ECB's Governing Council member Holzmann: Risk of over-tightening seems dwarfed by risk of doing too little

The European Central Bank's Governing Council member Robert Holzmann said on Monday that the risk of over-tightening seems dwarfed by the risk of doing too little. In his opinion, the ECB' policy "must continue to show its teeth" until "a credible convergence" to its 2% inflation target is seen. 

Also, the official noted that the ECB’s timely policy actions had helped maintain inflation expectations near the target. Weak monetary-policy action risks de-anchoring those expectations and will make the ECB's efforts to subdue prices more time-consuming and costly, he added.

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