European Central Bank Governing Council member Yannis Stournaras said governments must do their part in reining in consumer prices after borrowing costs reached a level that may well be their peak. “Monetary policy has done its part to fight inflation,” Stournaras said in an interview in Santiago de Compostela, Spain, where he attended a meeting of euro-area finance officials. “Now it’s up to fiscal policy to take out some of the heat.” The comments follow a similar call from French central bank governor Francois Villeroy de Galhau, who urged a “more appropriate policy mix” on Friday. ECB President Christine Lagarde ... (full story)