ECB’s Vasle: I Would Support Faster Action to Keep Inflation From Becoming More Widespread

11 May 2022

By David Barwick – LJUBLJANA (Econostream) – European Central Bank Governing Council member Boštjan Vasle on Wednesday said he would be in favour of moving faster to ensure that inflation doesn’t take stronger hold.

In a speech at a conference to mark the 30th anniversary of the Bank of Slovenia, which he heads, Vasle said that ‘[a]fter long period of low inflation, in some instances worryingly low, we are now faced with increasing price pressures’ that are ‘now becoming a more broad-based phenomenon.’

This requires a policy response, he said, which is why the ECB has begun normalisation.

‘…I will remain supportive to further action’, he said. ‘Even faster one, to avoid inflation to become more widespread.’