Herodotou: ECB working to contain inflation

The European Central Bank’s monetary policy transmission is working to tame inflation, though material uncertainty persists in the euro area, ECB policymaker Constantinos Herodotou said on Friday.

“The recent increase in energy prices could transmit again to the rest of the economy and have an upward pressure on prices,” Herodotou, who is also governor of Cyprus’ central bank, told a conference in the city of Limassol. [Reuters]