ECB Governing Council member Olli Rehn said over the weekend, “personally, I expect the economic data to remain relatively good despite being affected by the Omicron variant.” He added that rate hikes in 2023 would be a logical step if there are no new economic shocks.
He added upward pressure on inflation will subside over the course of the year. Inflation is expected to hover around ECB’s target of 2% in the next two years.
