The European Central Bank (ECB) will ignore a recent rise in inflation was attributed to a rebound in oil and it will keep its monetary policy ultraexpansiva, since the increase in the prices of other goods and services continues to slow in the euro zone, said Thursday the agency.
The euro-area inflation accelerated in January to almost reaching the goal of the ECB, according to data released this week, but the central bank is making a deaf ear to calls for Germany to begin withdrawing its stimulus, based on aggressive asset purchases and interest rates below zero.
“as was expected, the fact general inflation has been made recently, largely due to base effects in energy prices, but inflationary pressures underlying remain contained,” said the ECB in its economic bulletin.
“The governing Council will continue to overlook the changes in inflation (general) if it considers that it is transient and has no implications on the outlook for the medium term for price stability”, he added.
To reiterate its guidance of monetary policy of January 18, the ECB stated that it is necessary to apply economic stimulus material to bring inflation to its target of nearly 2 percent and keep it there.
On the report on Thursday, the ECB estimated that the increase in the values of crude oil last year, will add more than 40 basis points to the price index of the euro zone in February, but that the cumulative impact will dissipate gradually.
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