ECB governing council member Olli Rehn, commenting on today’s flash Euro-zone CPI print, said that Euro-area inflation is gradually converging to target, though inflation just above 1% reflects weak domestic price pressure.
Additional quotes:
“¢ Expects ‘mild rebound’ in growth in Q4.
“¢ Prospects for returning to conventional interest rates, balance sheet have strengthened.
“¢ Natural rate significantly lower than before crisis.
“¢ Emphasises need for gradual steps.
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