Stournaras Warns ECB on Inflation Risks, Rates to Stay Cautious

Yannis Stournaras, a member of the European Central Bank’s Governing Council and Greek central bank chief, emphasized vigilance over inflation while advising against premature tightening of monetary policy. Speaking at a meeting of Eurozone finance ministers and central bankers in Dublin on September 19, 2026, Stournaras underscored that the ECB should avoid hasty rate adjustments, particularly given the risk of prolonged inflationary pressures above the 2% target. Current inflation remains above 3%, raising concerns about second-round effects and supply-side shocks persisting since the outbreak of conflict in Iran and the Middle East, which has already prompted two interest rate increases since the war began.