Inflation in the euro zone appears to have bottomed out, European Central Bank policymaker Jan Smets said on Thursday.
Addressing a conference in Ljubljana, Smets also noted that ECB rate-setters decided last week that very easy monetary policy was still needed to bring inflation to the bank’s target of just under 2 percent.
“Inflation appears to have bottomed out,” Smets, who is also Belgium’s central bank governor, said.
The ECB is debating whether and how to scale back its monetary stimulus programme, and a decision on the future of the 2.3 trillion euro (2.07 trillion pounds) scheme is expected in October.
Source: Reuters (Reporting By Francesco Canepa and Marja Novak; editing by John Stonestreet)