The European Central Bank should move quickly to raise interest rates in order to tackle soaring inflation, according to Finland's central bank chief.
His comments come as the U.S. Federal Reserve and the Bank of England's tightening cycle intensifies pressure on the ECB to follow suit.
"We are almost in between a rock and a hard place so that on one hand we have to ensure that the recovery will continue. On the other hand, we have to prevent higher inflation expectations being entrenched and being reflected in the labor market," Rehn said.
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