European Central Bank’s Rehn: It’s Action Time With Weak Euro a Key Point

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The European Central Bank must act forcefully to contain record inflation and keep expectations for future price growth anchored as the weak euro exacerbates a surge in energy costs, according to Governing Council member Olli Rehn. Following remarks by Executive Board Member Isabel Schnabel and France’s Francois Villeroy de Galhau, he tells Bloomberg’s Kathleen Hays at the Federal Reserve Bank of Kansas City’s annual conference in Jackson Hole, Wyoming, that it’s important for policy makers to continue with a consistent and orderly normalization of monetary policy.

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