ECB Told to Remain Vigilant Against Inflation but Avoid Hasty Action

The European Central Bank must be mindful of upside inflation risks but shouldn't act hastily, according to Governing Council member Yannis Stournaras. He emphasized that while it's 'good news' there are so far no second-round effects via things like wages, this situation can't be taken for granted.

Stournaras, the Greek central-bank chief, pointed out that just because there haven't been any wage increases yet doesn't mean it won't happen in the future. He stressed the need to remain vigilant and not rush into action.