ECB's Radev: I worth prudence, data-dependence and a robust anti-inflationary bias

• In policymaking I value prudence, data-dependence, and a strong anti-inflationary bias
• June ECB cut has clearly shifted the stance
• Temporary inflation undershoot possible, but wage and services pressures are evident

Radev is the Governor of the Bulgarian National Bank. From 1 January 2026 the Bulgarian National Bank will become a full member of the Eurosystem. These comments suggest he’s a hawk at heart.

Bulgaria experienced severe hyperinflation in 1996-1997, therefore much like the Germans, they care more about overshoots rather than undershoots on the inflation target.

This article was written by Giuseppe Dellamotta at www.forexlive.com.