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MNI BRIEF: No Tweaks Needed To ECB Inflation Target - Rehn

ECB Governing Council member Rehn speaks about an upcoming review of changes to the policy framework.

MNI (LONDON) - The European Central Bank's upcoming review of its 2021 policy framework changes should not focus on tweaks to the current inflation target as the “symmetric 2% over the medium term” goal has provided a clear and comprehensible anchor and enough flexibility for the Governing Council to act in recent years, Bank of Finland Governor Olli Rehn said in a speech on Friday.

The current target allowed policymakers to "avoid taking any excessively drastic measures that the old target (close to but below 2%) might have implied," Rehn said.

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MNI (LONDON) - The European Central Bank's upcoming review of its 2021 policy framework changes should not focus on tweaks to the current inflation target as the “symmetric 2% over the medium term” goal has provided a clear and comprehensible anchor and enough flexibility for the Governing Council to act in recent years, Bank of Finland Governor Olli Rehn said in a speech on Friday.

The current target allowed policymakers to "avoid taking any excessively drastic measures that the old target (close to but below 2%) might have implied," Rehn said.

Keep reading...Show less