Inflation challenges ECB’s normalisation plans
Central bank expected to confirm end of PEPP purchases on December 16
High inflation in the eurozone is presenting European Central Bank (ECB) governing council members with an unfamiliar challenge.
In November, inflation surprised policy-makers, investors and analysts, increasing year on year by 4.9%. This was the largest monthly reading since the euro’s creation. The consensus among officials still holds this will be a short-lived period, and inflation will head towards the ECB’s 2% target in 2022.
ECB president Christine Lagarde restated this idea earlier in
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