Bavaria premier demands action from ECB, German govt to dampen inflation By Reuters

Bavaria premier demands action from ECB, German govt to dampen inflation By Reuters
Bavaria premier demands action from ECB, German govt to dampen inflation © Reuters. FILE PHOTO: The euro sign is photographed in front of the former headquarters of the European Central Bank in Frankfurt, Germany, April 9, 2019. Picture is taken on slow shutter speed while the camera was moved. REUTERS/Kai Pfaffenbach/File Photo

BERLIN (Reuters) – The premier of the German state of Bavaria called on the European Central Bank (ECB) on Wednesday to tighten monetary policy to counter rising inflation in Europe’s biggest economy, according to an interview in Handelsblatt business daily.

“Inflation is rising overall and at the same time there are still zero interest rates for savers. It is a fact that there is creeping expropriation,” Markus Soeder, head of the conservative Christian Social Union, told Handelsblatt.

“In the face of inflation, the ECB should slowly scale back its ultra-loose monetary policy,” he said.



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