On June 16, Professor Edward Scicluna. Governor of the Central Bank of Malta, was interviewed by Politico’s journalist Ben Munster. The Governor said that the need to upwardly revise core inflation projections comes as a surprise to him and his colleagues on the Governing Council. He was disappointed this happened especially as headline inflation is falling and even core inflation seems to have peaked, in some countries like Spain and France. In the monetary policy meeting held the day before, the Governing Council decided to raise the three key ECB interest rates by 25 basis points. This showed its determination to ensure that inflation returns to its 2% medium-term target in a timely manner.

Read the full interview here.