ECB chief economist in a newspaper interview
- ECB must stick to goal of lifting inflation close to 2% in medium term
- watching for side effects of ECB action but do not see "horror scenario"
Maybe something lost in translation but the specific reference to "horror scenario" suggests he still anticipates/fears some degree of fall-out.
Either way he's yet another central figure now talking of low/lower oil prices for the foreseeable future. Previous comments from ECB and others have dismissed it as temporary. Let's see what the BOE have to say tomorrow.
I'll be posting a BOE MPC preview in due course.
