Economics
ECB Shouldn’t ‘Overreact’ in Path to Normalization, De Cos Says
- Policy direction is clear but shift must be ‘gradual’
- Sees inflation stabilizing at around 2% in medium term
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The European Central Bank is moving closer to normalizing monetary policy but should do so carefully to avoid derailing the economy’s post-pandemic recovery, according to Governing Council member Pablo Hernandez de Cos.