European Central Bank (ECB) Governing Council member and Governor of the Bank of Portugal, Álvaro Santos Pereira, stated in a Saturday interview that the ECB should act early to address inflation. Pereira said, "Our primary concern at present is inflation, and we must closely monitor all relevant data. Based on past experience, we need to take action early to avoid more severe secondary transmission effects of inflation."

He added, "If a situation of spiraling inflation emerges, I would favor swift and decisive measures." When asked if this meant he would support an interest rate hike at the ECB's upcoming meeting next month, he responded, "At that time, the ECB will release the latest projections and relevant national indicators. We will comprehensively assess the price trends before making a final decision."