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7/29, 1:49 PM (Source: TeleTrader)
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ECB: Above 2% inflation shouldn't surprise

The European Central Bank (ECB) released on Thursday the account of the monetary policy meeting held on July 7, saying that the transitory inflation over 2% should not come as a surprise if it happens.

The potential overshoot is likely to be a result of ECB's more persistent use of monetary policy instruments if the rates approach "the effective lower bound," the statement read.

"In these conditions, in the face of large adverse shocks, the Governing Council’s policy response would, appropriately grounded in a careful proportionality analysis, include especially forceful monetary policy measures," the central bank underlined.

Breaking the News / BU