In view of the high inflation, the debate in the European Central Bank (ECB) on raising interest rates is gaining momentum.
As can be seen from the minutes of the March meeting of the Governing Council of the ECB, which were published on Thursday, the conditions for an increase were discussed internally.
It was argued that the prerequisites for this were largely met or very close to being met.
A large number of monetary authorities spoke out in favor of taking further steps towards normalizing monetary policy.
The latest statements by central bankers fit in with this: From the point of view of Bundesbank President Joachim Nagel, the ECB could quickly initiate an interest rate turnaround.
Several currency watchdogs have brought September as the date for discussion.
Fueled by a surge in energy prices as a result of the Ukraine war, inflation in the euro area rose to 7.5 percent in March.
The ECB is aiming for 2.0 percent in the medium term.
It meets next Thursday for its next session.
The monetary watchdogs want to end their multi-billion dollar bond purchases in the summer if the inflation outlook allows it.
The shutdown of the bond program is seen as a sign of a turnaround in interest rates that is to be initiated "some time" later.
Several monetary watchdogs are urging that this should be done quickly.
However, the consequences of the Ukraine war are making the ECB's decision-making more difficult.
High energy prices and far-reaching Western sanctions against Russia are weighing on growth.
According to ECB Vice President Luis de Guindos, the euro zone is facing an economic downturn in the near term.