Erki Liikanen makes a presentation to lawmakers
- Inflation is clearly slower than targeted
- Monetary policy alone cannot sustain economic growth
- Structural reforms need to be continued in order to reinforce the conditions for growth
- Growth and inflation still subject to downside risks
- Governing council is willing and able to act by using all tools available within mandate if warranted, in order to maintain an appropriate degree of monetary accommodation
- Inflation target is symmetric
- Mon pol responds to both too slow and too high inflation rates with equal vigour
That's as maybe Mr Liikanen but mon pol does sweet Fanny Adams when you're at the mercy of oil prices
