European Central Bank governing council member Mario Centeno said on Monday that there is uncertainty about inflation that must be monitored, but played down the idea that new Covid-19 restrictions in Europe would lead to an increase in inflation. The economic and financial consequences of the Covid-19 pandemic will only manifest themselves later, he added.  

His comments come after sources on Monday told Reuters that some ECB policymakers had been pushing at last week’s meeting for the bank to acknowledge greater upside risks to its inflation forecast, but were shot down by ECB Cheif Economist Philip Lane. 

Market Reaction

The euro has not reacted to Centeno’s latest comments. 

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