ECB's Sleijpen: Energy prices likely to become entrenched more quickly than in 2022

European Central Bank policymaker Olaf Sleijpen said on Tuesday that the rising energy prices are likely to become entrenched in wider economy more quickly than they did during the 2022 energy crisis, as reported by Reuters.

"We can't control oil and gas prices, but we can act if we see second-round effects. I think we will have more information on that front in April," Sleijpen added.

Market reaction

These comments failed to trigger a noticeable market reaction in EUR/USD. At the time of press, the pair was down 0.2% on the day at 1.1588.