Spain: Reclaiming Price Stability in the Euro Area - The Road Ahead | Governor Talks

IMF Europe Department Director Alfred Kammer and Bank of Spain Governor Pablo Hernandez de Cos will discuss the challenges facing the European Central Bank as it battles still-elevated inflation. The euro area economy showed remarkable resilience following Russia’s invasion of Ukraine and the resulting cost-of-living crisis in 2022. Activity has weakened over the course of 2023 while inflation still remains high. Over the past 15 months, the ECB has pursued the steepest hiking cycle in its history to bring price pressures under control in an environment of elevated uncertainty and ongoing structural shifts. The ECB continues to face difficult decisions on how much further and for how long it will need to maintain a restrictive stance. The conversation will examine the key considerations shaping the ECB’s approach to bring inflation back down to target in a timely manner.