The European Central Bank’s (ECB) new strategy on inflation targeting allows more flexibility and preparedness for a future crisis, the central bank’s policymaker Yannis Stournaras said in an opinion column in Greece’s Kathimerini newspaper.
“I express the belief that we are better prepared to face any future economic turmoil.”
“Compared to the current wording, this approach makes it clear that 2% is not the maximum level that is considered acceptable for inflation, but our symmetrical target.”
“We emphasize that both the continuous rise and the prolonged fall of prices must be limited as much as possible.”
“This way, inflation may reach levels just above the 2% target for a limited period of time.”