FRANKFURT — Central bankers must change course to fight accelerating inflation, Deutsche Bank Chief Executive Officer Christian Sewing said on Monday.
Sewing, speaking at a banking conference, said he didn’t share the opinion of central bankers that inflation increases were temporary.
“I think monetary policy must take countermeasures here – and sooner rather than later,” Sewing said.
“The supposed panacea of recent years – low interest rates with seemingly stable prices – has lost its effect, and now we are struggling with the side effects,” he said.
(Reporting by Tom Sims and Frank Siebelt Editing by Paul Carrel)