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4/11, 10:33 AM (Source: TeleTrader)
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ECB's Panetta says bank must lift inflation

The European Central Bank (ECB) must lift the inflation back to its 2% target as the persistent misses risk damaging the economy, board member Fabio Panetta said.

"The ECB has failed to reach its aim for too many years already," the official said, warning that delaying it "will be even more costly. It would make it more difficult to re-anchor inflation expectations and we would risk a permanent reduction of economic potential."

The central bank has undershot its target for eight years.

Breaking the News / MD