ECB's Álvaro Santos Pereira says euro-area price stability reached, calls for EU reforms

On January 8 2026, ECB Governing Council member Álvaro Santos Pereira said euro-area inflation has essentially aligned with the central bank's 2% target, indicating price stability. He noted interest rates have been left unchanged for several consecutive meetings and argued that further progress now depends on structural reforms by European governments and EU institutions to address weak growth.