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- ECB’s Rehn: Central bank working with all its tools to stabilize inflation at its 2% target
ECB’s Rehn: Central bank working with all its tools to stabilize inflation at its 2% target
The European Central Bank (ECB) board is working with all its tools to stabilize inflation at its 2% target in the medium term, the central bank’s Governing Council Member Olli Rehn on Thursday.
He said, “it's better to progress step by step in normalizing monetary policy in an uncertain situation.”
His comments come ahead of the European Commission’s eurozone forecasts release, with the draft having shown inflation at 3.5% in 2022.
Market reaction
EUR/USD is keeping its range around 1.1430, largely unchanged on the day, with all eyes on the EU economic forecasts and the US inflation.
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