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ECB's Villeroy Reports No Second-Round Effects from Rising Energy Costs

25 Mayıs 2026Bloomberg

Francois Villeroy de Galhau, an outgoing member of the European Central Bank's Governing Council, stated that the recent surge in energy prices has not yet led to second-round effects on the euro-area economy. This suggests that while energy costs are rising, they have not yet influenced broader economic factors suc…
The ECB remains vigilant in monitoring these developments as they could impact monetary policy decisions in the future.
The European Central Bank has been closely monitoring inflation and economic indicators as it considers its monetary policy approach. The recent rise in energy prices has raised concerns about potential inflationary pressures, but Villeroy's comments suggest that the immediate impact may be contained for now.
Villeroy's remarks highlight a critical moment for the ECB as it navigates the complexities of inflationary pressures stemming from energy costs. The absence of second-round effects indicates that consumer behavior and wage negotiations have not yet reacted to the initial shock, which could provide the ECB with a wi…

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