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6/15, 10:18 AM (Source: TeleTrader)
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No indication of broader price pressure rise - ECB's Rehn

Member of the European Central Bank (ECB) Governing Council Olli Rehn said on Tuesday that there are currently no signs of an increase in broader price pressures, noting that the slack remains high.

Rehn also stated that the execution of the pandemic emergency purchase program (PEPP) needs to be conducted in a flexible manner to help fight disinflationary effects. Moreover, he stated that this will also support growth, adding that accommodative financing conditions are the main focus in the Eurozone's recovery efforts.

Rehn's comments on PEPP echo previous statements coming from the ECB on the matter, as the central bank tries to downplay inflation fears, with Rehn mentioning that the recent rise in inflation is due to "one-off and temporary factors."

Breaking the News / OL