ECB had to act to forestall fall in inflation expectations, Praet says

Peter Praet

The European Central Bank (ECB) had to act to expand its securities purchasing programme to forestall a possible downward shift in inflation expectations, the bank's de facto chief economist has said.

In the summer of 2014, long-term inflation expectations in the eurozone "started a gradual decline to levels unseen since the start of monetary union", Peter Praet told an audience in Rome today (April 4). "Without further decisive policy action, sized to a scale appropriate to arrest the process

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