European Central Bank rate hikes have started to work their way through the economy, as evidenced by falling inflation, but the bank still needs to work on getting underlying price growth down, Central Bank of Cyprus chief Constantinos Herodotou has said.
“We are beginning now to see the first signs of the impact in the real economy and … it’s already seen in the headline inflation, even though core inflation is sticky, so we still have to work on that,” Herodotou told the Delphi Economic Forum in Greece on Wednesday.
The Delphi Economic Forum 2023 is taking place from Wednesday to Saturday in the historic town of Delphi under the theme “Paradigm Shifts“.
It has draw almost 1,000 speakers from 71 countries, including heads of state, national leaders, EU Commissioners, and heads of international organizations.
The Forum aims to explore innovative solutions and transformative ways of thinking in the face of the most pressing issues of our time, including geopolitical instability, climate change, sustainable economy, social integration, and technological progress.