The European Central Bank (ECB) still plans to take action to combat the problem of low and falling inflation despite holding off and disappointing markets over the past few months, Portugal’s finance minister told CNBC.
Maria Luís Albuquerque forecast the central bank would soon instigate monetary easing to boost inflation, highlighting ECB President Mario Draghi’s insistence at his last news conference that the use of “unconventional” policies was still under consideration.
“One would expect in the near-future we would know more details about it,” Luís Albuquerque told CNBC, speaking from the spring meeting of the International Monetary Fund (IMF) in Washington DC.
“They (the ECB) just said at the last Board of Governor’s meeting that they discussed it and were considering it.”
Unlike central banks in the U.K., U.S. and elsewhere, the ECB has not launched a bond-buying program to either stimulate the economy or boost inflation, which slipped to a 52-month low of 0.5 percent in the euro zone last month.