Inflation Action by ECB Governing Council Member Olli Rehn

Olli Rehn, Member of the Governing Council of the European Central Bank (ECB) and Governor of the Bank of Finland, underlined the need for the European Central Bank to take strong action to control inflation, which is affecting the whole world.

Olli Rehn, Governor of the Bank of Finland, stated at the annual Jackson Hole meeting of the US Federal Reserve (Fed) that the ECB should take strong action to contain record inflation. ECB Member Olli Rehn said, "The reality is that inflation is at very high levels in Europe and globally. So it is time to act. The next step will require a significant move in September, depending on the incoming data and the inflation outlook." Stating that the depreciation of the euro exacerbated the increase in energy costs, President Rehn noted that the ECB should maintain expectations for future price increases. Investors currently have a 50 percent chance that the ECB's September rate hike will exceed half a percentage point. https://twitter.com/BloombergHT/status/1563825227431383040   Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!