Olli Rehn is the Governor of the Central Bank of Finland and, as such, sits on the Governing Council of the European Central Bank.
From a press release issued Tuesday:
- “The rise in consumer prices in the euro area is slowing, but not as much as it should be,”
- “Inflation excluding energy and food is only coming down gradually.”
Ren said that a decline in this core inflation is a prerequisite for a pause in interest rate increases
-
“I can say that I consider core inflation to be a very important and fundamental measure of general judgment for making monetary policy,”
- “It is important that core inflation is in a steady and sustainable decline.”
Ren asserted that:
- “We will raise interest rates to levels that are sufficiently restrictive to achieve a timely return of inflation to the medium-term target of 2% and to maintain them as necessary.”
—-
The ECB meeting in July will bring the following rate hike for the bank:
