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MNI BRIEF: ECB Focus Is To Deliver 2% Price Target-Lagarde

MNI (London)

The European Central Bank's commitment will be to deliver on a target for 2% inflation, and it will not look to match the Fed in setting average inflation gains, ECB President Christine Lagarde said on Thursday.

Speaking to reporters following the release of the ECB's policy strategy review, Lagarde said several times that policymakers' target will be purely to meet the 2% target over the medium term and not to reach higher or lower levels -- although inflation could run higher or lower for a brief period.

Lagarde would not comment on how the switch to a new symmetric 2% target would impact on current monetary policy, but said the change was only very marginal from the ECB's previous target of ' close to but below 2%'.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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