🧵 We will bring inflation back to 2%, says Executive Board member Fabio Panetta in an interview with @lemondefr. We have raised interest rates decisively, but monetary policy typically operates with lags.
Read the interview https://www.ecb.europa.eu/press/inter/date/2023/html/ecb.in230602~7f6e313c29.en.html
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Panetta: We are now dealing with the inflationary consequences of a series of adverse global shocks. But we are fully determined to reach our 2% target.
There is considerable room for fighting inflation by keeping rates high for as long as necessary
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