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ECB’s Escrivá: Must Determine Whether Inflation Shock Will Be Temporary or Not

ECB’s Escrivá: Must Determine Whether Inflation Shock Will Be Temporary or Not

By Marta Vilar – MADRID (Econostream) - European Central Bank Governing Council member José Luis Escrivá said on Thursday that the key challenge for policymakers was determining whether the inflationary effects of the Middle East war would prove temporary or become persistent enough to threaten the ECB's price stability objective.

2 July 2026

ECB Tone Meter

Entire Governing Council

27 Members
Very Dovish
Very Hawkish

Executive Board

6 Members
Very Dovish
Very Hawkish

Evolution

Governing Council vs. Executive Board

As of 2 July 2026

Meeting Bias

ECB Governing Council Meeting