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CORRECTED-ECB needs patience, steady hand to revive inflation: Praet
July 6, 2017 / 10:12 AM / 4 months ago

CORRECTED-ECB needs patience, steady hand to revive inflation: Praet

(Corrects location of speech to Paris from Rome in second paragraph)

FRANKFURT, July 6 (Reuters) - Euro zone growth is accelerating but a “steady-hand” policy from the European Central Bank is still needed to revive inflation, ECB chief economist Peter Praet said on Thursday.

“As the economic prospects brighten, higher expected returns on business investment will make borrowing conditions increasingly attractive,” Praet told a conference in Paris.

“But our mission is not yet accomplished. We need patience and persistence,” Praet said, repeating last week’s message from ECB President Mario Draghi. “Therefore, maintaining a steady hand continues to be critical to fostering a durable convergence of inflation toward our monetary policy aim.” (Reporting by Balazs Koranyi; editing by Andrew Roche)

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