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Fabio Panetta, a member of the ECB, emphasized the importance of data-dependent normalization, focusing on headline inflation path rather than components. He stated that the ECB will pursue normalization gradually and smoothly, avoiding forward guidance on rate moves. Panetta highlighted that the economic environment supports a normalization of the monetary stance, while cautioning about high political and geopolitical risks.
🔵 ECB'S PANETTA SEES GRADUAL POLICY EASING IF OUTLOOK HOLDS The European Central Bank could gradually reduce interest rates as inflation falls, Italian central bank Governor Fabio Panetta said on Wednesday, arguing that much of the recent concern about sticky services costs is…
ECB's Panetta says should avoid even "casual forward guidance" on timing of rate moves https://t.co/INsCNSotkG
Panetta of ECB warns about ongoing high political and geopolitical risks. #ECB #economicnews