Liikanen warns of need for inflation vigilance

European Central Bank governing council member Erkki Liikanen said in a speech on Friday 22 September that vigilance was required on inflation despite a sharp fall in oil prices.

In a business speech in Singapore, Liikanen said the global economy had seen a period of strong economic momentum but three downside risks to growth exist.

"The downside risk is that we had such a strong rise in oil prices for the last few years, despite the change in the last few weeks, there is always a risk that the