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ECB warns energy shock could keep inflation elevated for longer

ECB Vice President Boris Vujcic said diesel prices are expected to remain high long term, adding to inflation pressure.

Reported · Written up by our desk · Central Banks

European Central Bank Vice President Boris Vujcic said the ECB has begun a tightening cycle and sees a risk that energy prices could stay high for longer, according to FXStreet.

Vujcic added that diesel prices will remain elevated for a long time, which he said could continue to feed into inflation.

The ECB is the reserve bank for the eurozone, and it sets interest rates and manages monetary policy for the region, with its primary mandate to keep inflation at around 2%.

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