ECB's Peter Praet speaking in Rome
- Sees risks that low inflation may become persistent
- Inflation may decline even in situations where monetary policy has been successful in reducing slack
- Persistently low inflation would deeply damage the economy
- In the environment we face today, the transition to lower inflation rates would risk the economy adjusting through recession
- ECB will act forcefully to raise inflation
- ECB is so determined to raise inflation
- ECB showed it doesn't wait for others to move first
- Acting decisively to defend ECB objective wards of more severe macroeconomic imbalances
Not sure about that 'not waiting for others' comment. The ECB have been the glue factory horse in the QE race.
