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MNI BRIEF: ECB Should Consider Lower EZ Price Outcomes-Centeno

(MNI) Rome

The European Central Bank's Governing Council should take account that inflation in January and February was lower than projected in the December forecast when it meets next week, Bank of Portugal’s Governor Mario Centeno told La Stampa in an interview published Monday.

Headline inflation in February was some points below December's expectation and that should have an impact on ECB’s policy, he said noting that "lower inflation does not require interest rates that high”.

The cumulative 300 basis points of rate hikes since July could have been too fast and from March patience will be needed to allow those hikes to have an impact on inflation, Centeno said. Asked about persistent core inflation, the governor said that was worth looking at but that the ECB’s target is on headline inflation. (MNI SOURCES: 100bp Gap Between Hawk-Dove ECB Peak Rates)

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
Central Bank NewsPolicy NewsHomepagePortugalEuropean Central BankCEEMEAEurozoneEuropean Central Bank (ECB) Market NewsBriefStoryRegion
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