Preserving the singleness of monetary policy should be thought of as a necessary condition for price stability. The ECB stands ready to act should any disruption in the transmission mechanism occur – Governor Scicluna

Central Bank of Malta Governor, Professor Edward Scicluna, addressed the London financial community including members of the academia in a Distinguished Speakers Luncheon Seminar in London. The seminar, which was attended by over 80 participants, was organised by the European Economics and Financial Centre of the University of London on 15 June 2022.

In a speech, titled ‘The Economic and Financial Outlook for the Euro Area’, the Governor discussed the normalisation of the monetary policy stance following the ECB’s decision to increase key policy rates next month. The ECB Governing Council, of which Prof Edward Scicluna is a member, took this decision as a response to persistent inflation in the euro area. Furthermore, the Governor elaborated on the tools the ECB could deploy to counter the recent resurgence of fragmentation risks in the euro area.

“Preserving the singleness of monetary policy – Governor Scicluna stated – should be thought of as a necessary condition for price stability. The ECB stands ready to act should any disruption in the transmission mechanism occur.”

The Governor’s speech was followed by a Q&A session which was moderated by Professor Hannah Scobie, Chair of the European Economics and Financial Centre of the University.

Source: Central Bank Malta