ECB’s Knot says “inflation is now not slow” in Europe

© Reuters. FILE PHOTO: ECB board member Klaas Knot looks at a Dutch parliamentary listening to in The Hague, Netherlands September 23, 2019 REUTERS/Eva Plevier/

AMSTERDAM (Reuters) – Rising inflation in Europe is seemingly now not quick, Dutch central financial institution president Klaas Knot stated in an interview published on Sunday in NRC Handelsblad.

“Inflation is now not slow,” stated Knot, identified as one among the extra hawkish contributors of the European Central Monetary institution’s governing council.

“We must composed now not over-estimate our ability to establish what’s quick inflation and what’s now not,” he stated.

The ECB forecasts inflation of 1.9% this year ensuing from what it views as quick factors amid a restoration after the coronavirus pandemic. For 2022, the financial institution forecasts inflation to fall attend to 1.5%. Its long-term inflation intention is stop to, however a minute bit below 2%.

If that is carried out within the medium term “then we will see whether we’re in a obtain to tighten the straps (of financial protection) as strongly as we now had been in a obtain to loosen them for the past 10 years,” Knot told the paper.

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