“Getting inflation down continues to be the ECB’s top priority, that is important. Even after today’s interest rate hike, it is too soon to sound the all-clear for inflation in the euro area,“ said Henriette Peucker, Deputy Chief Executive of the Association of German Banks, about today’s ECB meeting.

“The ECB should stay its course in order to rein in inflation in the medium term and beyond. It is currently operating in a challenging environment and the latest inflation figures have been an unwelcome surprise. Inflation remains stubborn in the euro area. And this is reflected in consumers’ expectations that inflation will remain high.”