ECB’s Centeno says is against rushed decisions on inflation

European policymakers should avoid rushed pro-cyclical measures in response to high inflation, which is expected to slow down over time and converge with European Central Bank targets, ECB Governing Council member Mario Centeno said on Thursday.

“We should be worried and act – as consumers and policymakers – about the inflation numbers we’ve seen. But we also have to remember the need to think longer-term in these processes…and we should be guided by patience.”

“Pro-cyclical policies are all we should avoid”, he said, adding there is a need for greater coordination of national policies, but also at the European level.