ECB officials lay out positions on future inflation target

Pablo Hernández de Cos
Pablo Hernández de Cos: “Inflation scrambles the signals emitted by prices and therefore distorts decisions” 
Photo: Banco de España

European Central Bank (ECB) officials have started highlighting their policy priorities regarding changes in the inflation target discussed as part of the institution’s strategy review.

The governor of the Bank of Spain, Pablo Hernández de Cos, said today (February 5) that he thinks the inflation target should be fixed at 2%. The central bank’s current objective is annual inflation of below but close to 2%.

In an interview with the Financial Times, de Cos argued his proposal would “provide

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