ECB President Notes Resilient Euro Area Economy Amid Rising Inflation and Rate Hike

In an introductory statement for an ECON hearing, the European Central Bank (ECB) President highlighted the euro area economy's resilience despite energy shock headwinds, with real GDP projected to grow by 0.9% in 2026. The ECB recently raised interest rates by 25 basis points in September. Inflation in August increased to 3.2% from 2.9% in July, primarily driven by a rise in energy inflation to 14.3% from 10.3%. However, inflation excluding energy and food slightly decreased to 2.4% in August from 2.5% in July.