ECB: The anti-inflation process is “progressing smoothly,” and inflation is expected to fall back to the target level after rising again. A data-based conference-by-meeting approach will continue to be used to determine the appropriate level and duration of restrictions. Portfolios of asset purchase plans and emergency pandemic purchase plans are declining at a controlled and predictable rate.

ECB: The anti-inflation process is “progressing smoothly,” and inflation is expected to fall back to the target level after rising again. A data-based conference-by-meeting approach will continue to be used to determine the appropriate level and duration of restrictions. Portfolios of asset purchase plans and emergency pandemic purchase plans are declining at a controlled and predictable rate.