Juergen Stark, ECB Executive Board member, claims that the central bank will raise interest rates if necessary to keep inflation under control. According to Stark, the ECB is ready to “act decisively and immediately” on any indications of a wage-price spiral and higher inflation expectations.

In January inflation euro zone inflation accelerated to 2.4% getting above the 2% ceiling established by the central bank. Stark expects inflation to stay above 2% during 2011 and then ease down in 2012.

Hawkish comments of the EBC officials may be the kind of preparation for the shift in policy at the next meeting of the European officials that will take place on March 3 when the central bank is due to publish its latest inflation forecasts.

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