Hollande’s inflation gaffe surprises economists

French President François Hollande congratulated the ECB for bringing inflation close to zero at a time when economists are criticising it for precisely that reason.

While the ECB aims to keep the inflation rate at just below 2%, it’s been well short of that for more than a year and fell below zero in December.

Hollande’s gaffe comes as the central bank considers massive government bond purchases for the first time to rectify the situation.