ECB Agrees on New Inflation Goal of 2%, Will Allow Overshoot

by Aurelia Butler 7 July 2021, 19:27 189 Views

The agreement emerged at a special meeting to conclude the ECB’s strategy review this week, which finished Wednesday. An ECB spokesman declined to comment.

A goal of 2% would be a significant change to the previous target of “below, but close to, 2% over the medium term.” Some policy makers felt that phrasing was too vague and led to calls for tighter policy too soon.

The results of the review will be published at 1 p.m. Frankfurt time on Thursday, and President Christine Lagarde will hold a press conference 90 minutes later.

Source: Economy - investing.com

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ECB Agrees on New Inflation Goal of 2%, Will Allow Overshoot

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