He's cranking up now
ECB's mandate is price stability, not stability of core inflation
Effects of oil prices on inflation will shrink
Gap between core and headline inflation will shrink
ECB must take a medium-term view
ECB has no FX target
ECB does not want to raise rates prematurely
We don't want to make the mistake of prematurely raising rates again
Must not over-interpret the monthly data
Peter Praet also up;
We are not yet sufficiently confident that inflation will converge to levels consistent with our aim in a durable manner
Eurozone cyclical recovery is gaining momentum