European Central Bank Governing Council member Klaas Knot said inflation shocks are now in retreat, though officials stand ready to step in again if reaching the 2% goal moves further into the future. “The effects of these shocks are now gradually waning,” Knot said Wednesday in Marrakech, where he’s attending annual meetings of the International Monetary Fund and World Bank. “We have to monitor, there will be new shocks.” Consumer-price growth has slowed to 4.3% from more than 10% in October 2022, though the ECB’s latest projections only see it reaching target in the second half of 2025. Doing so that year “would be ... (full story)