ECB's Pure Focus on Energy Supply Shock Surprising
Dow Jones
Yesterday
0512 GMT - The European Central Bank's pure focus on the energy supply shock surprises Indosuez Wealth Management, says chief investment strategist Benedicte Kukla in a note. The ECB is not taking into account the still fragile demand factors and lack of drivers for core inflation (prices excluding food and energy), Kukla says. It is also not fully taking into account the impact of tightening of bond market rates, she says. The ECB doesn't lack credibility on inflation, but is at risk of over tightening a still nascent economic recovery, Kukla adds.
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