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In a statement on Wednesday, Gabriel Makhlouf, a decision-maker at the European Central Bank (ECB), conveyed concerns about early signals indicating the impact of inflation and monetary tightening on borrowers’ resilience in the mortgage, personal loan, and some corporate loan sectors.
However, he emphasized that significant uncertainties lie ahead. A substantial portion of the monetary tightening policy has yet to fully transmit to the financial system and the economy.
While some risks are receding, new ones are emerging, as highlighted by Makhlouf.
