ECB minutes from January’s meeting confirmed that the central bank would look through increases in inflation

ECB minutes from January’s meeting confirmed that the central bank would look through increases in inflation triggered solely by a surge in energy prices and would concentrate on whether there was any evidence of second-round inflation effects.

 

The ECB expected that overall inflation pressures would remain muted despite an important element of uncertainty surrounding developments in wages and there was a further pledge to maintain a very accommodative monetary policy.