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ECB's Vujčić Cautions Against Reading Higher Energy Prices as Automatic Rate Hikes
Vera
By Vera
Markets Editor
European Central bankThe institution that sets monetary policy for a country or currency area, including interest-rate decisions that can move currencies.Read More Vice-President Boris Vujčić said markets are focusing heavily on higher energy prices when pricing the ECB's interest-rate path, but policymakers will assess a broader set of data before deciding further moves. In an ECB-published Reuters interview released September 18, Vujčić said energy prices had risen beyond assumptions used in the latest projections and could stay elevated for longer. He also warned that persistent energy costs can weaken household purchasing power and consumption, creating a growth drag alongside the InflationA broad rise in prices that reduces money’s purchasing power. Central banks watch inflation because it affects interest-rate decisions.Read More pressure.
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