Comments by ECB governing council member, Gabriel Makhlouf
- ECB must avoid deanchoring of inflation expectations
- Inflation range may make ECB policy more credible
- There continues to be uncertainty about exactly what "close to, but below" means
- Have to consider whether current CPI data is helping to communicate the ECB's objectives in the most effective way
For a bunch of people who said that they should remain quiet about the strategy review process, they sure are a talkative bunch. Sheesh.
I reckon most policymakers in the central bank do want to change the current inflation target mandate. However, some of them appear to have differing views so we'll still have to see what conclusions can be drawn once there is a clear definition that is preferred.
