Comments from ECB Governing Council member Peter Praet:
- Shift to a higher inflation target would not only raise significant credibility issues, we could remember also that prevailing definitions of price stability have a welfare foundation
- Need more info to see whether QE can be retained as an instrument in the central bank toolbox over time
- Will take some time until inflation in line with mandate
- ECB a long way from challenges of policy exit
Praet spoke at an SNB conference in Zurich. The topic of his speech was monetary policy lessons from the financial crisis.
There's nothing notable in these comments so far.