EU Economic Commissioner Gentiloni:
- says the US infaltion rate is still rising
- inflation in Europe is linked to energy prices
- monetary policy fighting will continue, its not avoidable
- we must avoid a clash between fiscal and monetary policy
On that last point, he is most likely referring to very recent UK events – unfunded tax cuts and monetary policy tightening is such a clash. Gilts, GBP were trashed.
