European Central Bank (ECB) Governing Council member Emmanuel Moulin said during the European trading session on Thursday that high inflationary pressures in the Eurozone are 100% driven by energy shocks. Another ECB member who has ruled out fears of second-round inflation effects in the old continent. The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy for the region. The ECB primary mandate is to maintain price stability, which means keeping inflation at around 2%. Its primary tool for achieving this is by raising or lowering interest rates. Relatively high interest rates will usually result in a stronger Euro and vice versa.
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