Volker Wieland calls on ECB to act more quickly (Bild, Dow Jones)

Volker Wieland is critical of the European Central Bank's (ECB) communication on inflation trends and has called for faster action. "The ECB already had to revise its inflation forecast upward in December," Wieland told Bild newspaper. "For 2022, it now assumes 3.2 percent, previously it was only 1.7 percent. There has never been such a high correction."

According to Wieland, it was therefore premature for ECB President Lagarde to speak out against a first interest rate hike in the course of this year. Instead, the ECB should have kept the door open to an interest rate hike, similar to the U.S. Federal Reserve, he said.

Bild: "Wir haben uns bei der Inflation verrechnet"
Dow Jones: "Wieland fordert EZB wegen Inflation zum Handeln auf"
Focus online: "Hat die EZB sich verrechnet? Inflation steigt 2022 stärker als bislang erwartet"