ECB's Smets says they should not accept below target inflation

Author: Mike Paterson | Category: Central Banks

ECB's Smets out on Reuters 12 March

  • inflation may take longer to reach objective as output gap could take longer to close than anticipated
  • too early to conclude that growth is levelling off
  • FX volatility as much in focus as before
  • no discussion on revising guidance in March meeting other than to remove easing bias
Yep, and give the bulls false hope for a brief while

Smets is ECB Executive Board Director General Economics. Before becoming Counsellor to the President in December 2013, he served as Director General Research from 2008. Mr Smets previously worked at the Bank for International Settlements in Basel, Switzerland. He holds a PhD in economics from Yale University.

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