Rising oil prices are not only affecting current inflation rates but they're also overshadowing next year, ... It can't be ruled out that risks for price developments will deteriorate that much over the medium term that we might have to expect the annual inflation rate to slightly exceed 2 percent.

Otmar Issing

Related Quotes

We've got to stop a wage-price spiral coming after the oil price shock. But so far we haven't seen such second-round effects,

— Otmar Issing

A regime of fixed foreign-exchange rates and obligations to intervene would encroach upon the statute of the ECB and the priority of price stability,

— Otmar Issing

EncroachExchangeFixed

Potential political pressures must be resisted. The best contribution the ECB can make to the economic and social wellbeing of the euro area is to maintain price stability.

— Otmar Issing

According to all criteria, our monetary policy by no means is too restrictive, ... The danger of an overreaction of the ECB certainly does not exist. We always act on the basis of thorough considerations.

— Otmar Issing

Potential political pressures must be resisted, ... The best contribution the ECB can make to the economic and social wellbeing of the euro area is to maintain price stability.

— Otmar Issing