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- ECB's Rehn: Euro area inflation is still mostly transitory
ECB's Rehn: Euro area inflation is still mostly transitory
The European Central Bank (ECB) Governing Council Member Olli Rehn made some comments on the inflation and economic outlook on Tuesday.
Key quotes
In Europe still plenty of economic slack.
Euro area inflation still mostly transitory.
Some components partly more persistent than previously thought.
If elevated inflation lasts much longer, it will likely have effect on expectations.
Evidence speaking for transitory inflation is quite convincing.
Core inflation still subdued.
No major evidence of 2nd round effects.
ECB leans on side of not overreacting.
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