November 16, 2017 / 11:17 AM / a year ago

ECB more confident it will reach inflation target: Praet

European Central Bank Executive Board Member, Peter Praet, speaks during a conference in Sofia, Bulgaria May 24, 2017. REUTERS/Stoyan Nenov

FRANKFURT (Reuters) - The European Central Bank has grown more confident that it will reach its inflation target of just under 2 percent after lagging it for nearly five years, its chief economist said on Thursday.

“The recalibration of our asset purchases (last month) reflects growing confidence in the gradual convergence of inflation rates towards our inflation aim,” Peter Praet told an event in Brussels.

Reporting By Francesco Canepa

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