European Central Bank should consider 'clearer' inflation target - Schnabel
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FRIDAY, FEBRUARY 03, 2023
European Central Bank should consider 'clearer' inflation target - Schnabel

Global Economy

Reuters
14 January, 2020, 10:05 pm
Last modified: 14 January, 2020, 10:08 pm

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European Central Bank should consider 'clearer' inflation target - Schnabel

"We should also think whether we want to formulate this target in a clearer manner. It is foremost about how we can best reach the prime target, which is price stability"

Reuters
14 January, 2020, 10:05 pm
Last modified: 14 January, 2020, 10:08 pm
FILE PHOTO: Isabel Schnabel, member of the German advisory board of economic experts attends the 29th Frankfurt European Banking Congress (EBC) at the Old Opera house in Frankfurt, Germany November 22, 2019. REUTERS/Ralph Orlowski
FILE PHOTO: Isabel Schnabel, member of the German advisory board of economic experts attends the 29th Frankfurt European Banking Congress (EBC) at the Old Opera house in Frankfurt, Germany November 22, 2019. REUTERS/Ralph Orlowski

The European Central Bank (ECB) should think about formulating its inflation target more clearly, Isabel Schnabel, the bank's newest board member told a German newspaper in remarks published on Tuesday.

"The (inflation) target worked very well in the past but structural changes in the economy justify a careful discussion," Schnabel told Germany's Sueddeutsche Zeitung daily when asked what she made of the ECB's target of 'below but close to 2%'.

"We should also think whether we want to formulate this target in a clearer manner. It is foremost about how we can best reach the prime target, which is price stability. This is the objective that should guide us."

The ECB is starting a one-year review of its monetary policy strategy this month and plans to take a closer look at its target and the tools it uses to achieve that target.

World+Biz

European Central Bank (ECB)

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