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European Central Bank officials shrug off inflation fears

By Pierre Briançon

ECB executive board member Isabel Schnabel, a German economist by training, has taken on the role of reassuring German public opinion

European Central Bank executive board member Isabel Schnabel and chief economist Philip Lane insist that the surge of inflation forecast for the rest of the year will be of a temporary nature, and it does not call into question the central bank's accommodative monetary policy.

Read: Different strokes for different folks as Europe eases out of lockdowns (link)

The outlook: Forces are aligning for the fierce debate expected at the June meeting of the ECB's governing council, where advocates of keeping the current asset-buying program and negative rates on track will face the criticism of the hawks arguing for an early tightening of monetary policy.

And Schnabel, a German economist by training, has taken on the role of reassuring German public opinion, whose concerns about inflation are more intense than in the rest of Europe, about the ECB's policy and strategy.

Read:Bank of England Salutes U.K. Recovery but Keeps Policy Steady (link)

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05-12-21 0428ET

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