The representative of the European Central Bank, Erkki Liikanen, speaking in the Parliament of Finland, said that it will take time for the basic inflation in the euro area to affect the acceleration and support the growth of the overall inflation. According to him, to achieve the ECB inflation target of about 2%, a soft monetary policy is needed. Liikanen noted that there is exceptional uncertainty about how unconventional monetary policy works. According to the preliminary data of the Statistical Office of Eurostat, consumer prices in the euro area grew by 1.4% in March in annual terms, noting the maximum growth since the end of 2017.
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