On May 16th, according to Golden Jubilee Data, European Central Bank (ECB) Managing Director Stunaras stated that a small rate hike by the ECB can curb inflation without causing economic damage. Even if the inflation rate is significantly higher than the target level for a period of time, as long as this is temporary, we should be more moderate in tightening monetary policy in the future. This can curb the further spread of inflation without causing too much impact on economic activity. The duration and intensity of the energy crisis, as well as its transmission mechanism to the real economy, will also determine the European Central Bank's response measures. We will continue to closely evaluate all available data and be prepared to set the policy interest rate at a level that is consistent with maintaining price stability in the medium term. The usually dovish official emphasized that there is currently no strong evidence of a second round of inflationary effects, but he also warned that uncertainty is rising as damage to energy infrastructure in the Gulf region could prolong inflationary pressures in the medium term. The extended delivery time and rising input costs indicate that the supply chain is facing increasing pressure.