Weekend - ECB's Knot says euro zone inflation not where ECB wants it

Author: Eamonn Sheridan | Category: Central Banks

Reuters with weekend comments from Dutch central bank governor Klaas Knot

Speaking in a press interview 
 Inflation in the euro zone is not at the level the European Central Bank wants it to be
Knot:
  • the current situation was "not full convergence to below but close to 2%, I think. We have a figure in mind that is clearly closer to 2% than the number we have seen over the last five, six years or so."
  • "The only thing that we can do is to keep the pressure up, to make sure the economy continues to perform at high levels of capacity utilization and the economy continues to print GDP numbers in excess of potential growth."
  • "At some point this chain of events will also lead to higher prices."
EUR/USD is circa 1.1154 as I update, not too far from its late Friday level.

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