ECB Candidate Hernandez de Cos Flags Energy-Driven Inflation Risk

Cointime update: European Central Bank governing council member and ECB presidency candidate Pablo Hernandez de Cos said on Nov. 7 that policymakers must stay alert to inflation risks stemming from high energy prices. In an interview, he said so-called second-round effects have not yet materialized, but hopes that the Iran war would end quickly and lower energy prices have not been met. He also warned that public debt in some economies is at record highs while fiscal deficits remain elevated.