Inflation challenges ECB’s normalisation plans

ECB + bridge

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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