Technical Analysis

ECB’s Villeroy: It could take 2-3 years for inflation to return to target

  • We are not far from the neutral rate
  • Beyond that, our hiking pace could be more flexible and slower
  • Inflation could peak in “first semester” of 2023

They’ve been kicking back the timeline of said inflation peak from the start of this year all the way through to next year, so you kind of get the point of where this is going. As for their resolve to keep with rate hikes, let’s just say it is easier to talk about doing so than to follow through. Anyone remembers the whole transitory narrative?

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