"This goal of 2 percent or 1.9 is something that will not be easily reached in the years to come," said Ewald Nowotny, a long-serving member of the ECB's Governing Council. Speaking at an event organised by the policy think tank OMFIF, Nowotny added that unemployment levels were "still very high" despite recent declines. He would also like the bank to give itself more leeway with its inflation target, though he stressed it was unlikely to happen at the current time. Sweden's central bank is currently discussing given itself a band 1 percent plus or minus its headline 2 percent target. "This is a moving target so I think economically it makes much more sense," Nowotny later told Reuters.

Source: Times of India November 03, 2017 15:50 UTC