European Central Bank Governing Council member Kohler said on September 1 that upside risks to eurozone inflation have increased recently, according to a BlockBeats report. Kohler said further interest rate hikes would be necessary without delay if the ECB's next forecasts confirm that situation. The central bank must also ensure that medium-term inflation does not stay persistently above its 2% target, Kohler added. The remarks were carried in a BlockBeats flash item on September 1. The policy message has three parts: a recent increase in inflation upside risk, a conditional commitment to act immediately if the next ECB forecast confirms it, and an insistence on holding medium-term inflation to the 2% goal. The report did not state the size of any rate move or the exact date of the next ECB forecasts. Kohler's comment ties the next policy decision to the outcome of those projections while keeping the 2% inflation target as the reference point. The flash item did not include additional details beyond those points.
European Central Bank Governing Council member Kohler said on September 1 that upside risks to eurozone inflation have increased recently.
If the bank's next forecasts confirm that risk, Kohler said, further rate hikes would need to come immediately.
He also said the ECB must make sure medium-term inflation does not stay persistently above its 2% target.
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