In a series of tweets, ECB Governing Council member Peter Kazimir said that the new inflation target of the strategic review was an “evolution that was necessary, we were looking for”. He added, “the redesign will enhance our abilities to guard & deliver on the primary objective – to maintain price stability in the euro area.”
“Low inflation has become entrenched over the past few years and our revamped strategy says that we will not allow this to happen in the future,” he said. “To achieve that also means, that inflation may sometimes moderately and temporarily be above 2 percent.”
“The policy objective is clear and simple. This clarity will strengthen our toolbox and enhance anchoring of inflation expectations as desired.
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