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Financial system5 hours within the past (Jul 04, 2021 10: 55AM ET)

© Reuters. FILE PHOTO: ECB board member Klaas Knot seems at a Dutch parliamentary hearing in The Hague, Netherlands September 23, 2019 REUTERS/Eva Plevier/

AMSTERDAM (Reuters) – Rising inflation in Europe may perhaps well now not be non permanent, Dutch central bank president Klaas Knot acknowledged in an interview published on Sunday in NRC Handelsblad.

“Inflation is now not silly,” acknowledged Knot, is known as one among the extra hawkish individuals of the European Central Bank’s governing council.

“We ought to easy now not over-estimate our capability to search out out what is non permanent inflation and what’s now not,” he acknowledged.

The ECB forecasts inflation of 1.9% this year due to what it views as non permanent factors amid a restoration after the coronavirus pandemic. For 2022, the bank forecasts inflation to fall abet to 1.5%. Its long-term inflation aim is advance, nonetheless fair under 2%.

If that is carried out within the medium term “then we’ll look whether or now not we are ready to tighten the straps (of financial policy) as strongly as now we had been ready to loosen them for the past 10 years,” Knot told the paper.

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