ECB to take more action if needed to counter risk of low inflation

The European Central Bank will keep acting “forcefully”, if needed, to counter the risk of low inflation in the eurozone becoming entrenched, executive board member Peter Praet said yesterday.

“The prolonged period of low inflation we are in today has increased the risks that inflation misses might become persistent, which would be deeply damaging for the economy,” Mr Praet said in a speech in Rome.

“This is why we have reacted so forcefully to secure our objective and will continue to do so in the future if necessary.”