Economics
ECB’s Reasons to Blink Mount as Powell Shifts on Inflation
- Euro-area officials still insist price spike mostly transitory
- Emergence of omicron virus strain risks halting recovery
This article is for subscribers only.
Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.
The European Central Bank’s insistence that surging consumer prices won’t endure is being tested so repeatedly that inflation now threatens to overshadow a meeting in two weeks time to revamp pandemic stimulus.