US economy

German Chancellor Scholz backs ECB's inflation stance

© Reuters. German Chancellor Olaf Scholz attends a press conference with Greek Prime Minister Kyriakos Mitsotakis at the Chancellery in Berlin, Germany, November 14, 2023. REUTERS/Fabrizio Bensch/File photo

BERLIN (Reuters) – German Chancellor Olaf Scholz backed the European Central Bank’s vigilant stance on inflation on Tuesday, saying that tackling price increases was among the central bank’s most important tasks.

“Fighting inflation is one of the central bank’s most important tasks for our common currency,” Scholz said at a joint press conference in Berlin with the Greek Prime Minister, responding to a question on the inflationary burden weighing on both countries.

“Inflation challenges our citizens and our companies, so that is a good decision by the ECB,” he said.

(This story has been corrected to remove an erroneous reference to upcoming ECB rate decision in paragraph 3)


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