ECB’s Gertrude Tumpel-Gugerell told an Austrian newspaper that thee is no risk of inflation in the euro-zone at present. The official stated “I do not see an inflationary risk at the moment because economic activity is weaker than a year ago and raw material prices have gone down.”
Tumpel-Gugerell feels monetary policy should go beyond interest rates and that it was necessary to create confidence in the banking sector and to supply credit supply.
