SINTRA, Portugal, June 30 — The European Central Bank said on Monday it was bracing for five more years of economic upheaval as disruptions from geopolitical rifts to artificial intelligence take their toll, potentially requiring “forceful” action to keep inflation in check.
The ECB was updating its five-year strategy after a rollercoaster period in which it went from worrying about deflation during the pandemic to a cost-of-living crisis exacerbated by Russia’s invasion of Ukraine and, most recently, disruptions from a simmering trade war.
The euro zone’s central bank said the turmoil likely wasn’t over, courtesy of “structural shifts” such as geopolitical and economic fragmentation, as well as demographics and climate change.
Author
- Advertisement -
