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ECB’s Simkus sees risk inflation will be higher than expected

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Economy1 hour ago (Dec 17, 2021 10:30)

© Reuters. FILE PHOTO: The new governor of the Lithuanian central bank, Gediminas Simkus, poses for a picture in Vilnius, Lithuania, April 1, 2021. REUTERS/Ints Kalnins

VILNIUS (Reuters) – Inflation in the euro zone may come in higher than the European Central Bank expects while growth may disappoint because of lasting supply snags and higher energy costs, ECB policymaker Gediminas Simkus said on Friday.

“Inflationary risks are on upside,” Simkus, the Lithuanian central bank governor, told reporters in Vilnius.

“The risk balance is tilted towards higher inflation, due to omicron, uncertainties, lasting supply side disruptions, higher energy prices, contagion into production prices. And this means that GDP growth risks are to the downside.”

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