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ECB Constacio says inflation goals are to be reached by keeping policy accomodative

Tuesday, Sep 12 2017
ECB Constacio says inflation goals are to be reached by keeping policy accomodative

The non-standard measures that the ECB had to use in order to face the challenges of the crisis and the threat of too low inflation have been successful to avoid the worst for the European Monetary Union. From innovative liquidity facilities to asset purchase programmes and negative deposit rates, non-standard measures proved crucial to avoid deflation and foster the economic recovery.

We have not yet achieved our main goal of inflation being below but close to 2 percent. We share with other advanced economies the puzzle of wage and prices not responding to strong growth as usual. By keeping a sufficient degree of monetary policy accommodation we can be confident that our goal will eventually be reached, in accordance with our mandate.

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