ECB President Lagarde said that at present, we have not observed signs of a second round of influence beyond our predictions. We're keeping a close eye on forward-looking indicators — such as multi-year wage agreements, companies' wage expectations, etc. — but we haven't seen any signs of change so far. Regarding the question of whether to raise the forecast value, Lagarde believes that it is inappropriate to make predictions now. But apparently there have been some important changes since our September forecast. A higher energy futures curve will have an impact on both inflation and economic growth, despite recent declines in oil prices. Long-term interest rates have also risen. Our forecasts will determine how these different factors will affect medium-term inflation.

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