ECB's strategy will prevent entrenched inflation - Kazimir

EPA/DOMENIC AQUILINA

The revamped strategy of the European Central Bank (ECB) will not allow for the low inflation to "become entrenched" like it was the case "over the past few years," ECB Governing Council member Peter Kazimir (pictured) asserted on Monday.

In a series of tweets, Kazimir praised the new strategy's clarity, noting that the plan will enhance the central bank's "toolbox" and ability to anchor "inflation expectations as desired."

"It's an evolution that was necessary, we were looking for. The redesign will enhance our abilities to guard & deliver on the primary objective - to maintain price stability in the euro area," he concluded.

Baha Breaking News (BBN) / BU