ECB’s Knot says euro zone inflation is not yet where ECB wants it By Reuters

© Reuters. President of Dutch central bank De Nederlandsche Bank Klaas Knot arrives for the Frankfurt Finance Summit in Frankfurt

MILAN (Reuters) – The euro zone inflation is not where the European Central Bank wants it, ECB policymaker Klaas Knot said in an interview published by Italian daily Corriere della Sera on Sunday.

The current situation “is not full convergence to below but close to 2%, I think. We have a figure in mind that is clearly closer to 2% than the number we have seen over the last five, six years or so,” said Knot, the Dutch central bank governor.

“The only thing that we can do is to keep the pressure up, make sure the economy continues to perform at high levels of capacity utilization and the economy continues to print GDP numbers in excess of potential growth. At some point this chain of events will also lead to higher prices.”

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