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The European Central Bank (ECB) Governing Council Member Olli Rehn  dismissed the recent increase in price pressures as temporary, in his scheduled speech on Tuesday.

Key quotes

“PEPP will be conducted in flexible manner to help counteract disinflationary effects and also to support growth.”

“Accommodative financing conditions are key to support euro area recovery.”

“Recent rise in inflation is due to one-off and temporary factors.”

“Currently no signs of a rise in broader price pressures, slack remains high.”