ECB Member Says Inflation Will Remain Low For Two Years

May 27, 2014 Share Print 0

Inflation in the euro zone will likely stay “significantly” below the European Central Bank’s target this year and next, ECB Governing Council member Ewald Nowotny said in the Austrian National Bank’s annual report.

“But over the medium term it is likely to align itself with the ECB’s objective of keeping inflation below but close to 2 percent,” he added in the report released on Tuesday.

He said an economic recovery in the euro zone – and even more so in Austria – was showing signs of accelerating in 2014 and 2015.

via Reuters

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.