ECB member Ewald Nowotny speaks in Prague
- Eurozone inflation won't rise dramatically
- Eurozone economy is not overheating
Yup, surely not overheating that's for sure. And I don't think the market is expecting any "dramatic" rise in inflation but a slow and steady inch higher will at least provide some form of confidence that the ECB's policy direction is in fact justified. Right now, it's erring more towards the other end given the soft patch in Q1 data.
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