Rising oil prices are not only affecting current inflation rates but they're also overshadowing next year, ... It can't be ruled out that risks for price developments will deteriorate that much over the medium term that we might have to expect the annual inflation rate to slightly exceed 2 percent.
Inflation has come down, it's true, but in all likelihood it will rise again.
Potential political pressures must be resisted. The best contribution the ECB can make to the economic and social wellbeing of the euro area is to maintain price stability.
Potential political pressures must be resisted, ... The best contribution the ECB can make to the economic and social wellbeing of the euro area is to maintain price stability.
According to all criteria, our monetary policy by no means is too restrictive, ... The danger of an overreaction of the ECB certainly does not exist. We always act on the basis of thorough considerations.
If we were to conduct our projection now, the assumption would be for higher oil prices than in the March projection.