June 11, 2019 / 11:33 AM / in a month

ECB's Kazimir saw stimulus decision proves willingness to act

FILE PHOTO: The euro sign is photographed in front of the former head quarter of the European Central Bank in Frankfurt, Germany, April 9, 2019. Picture is taken on slow shutter speed while zooming. REUTERS/Kai Pfaffenbach

BRATISLAVA (Reuters) - The European Central Bank is still far from achieving its inflation target but its latest stimulus measures prove that it is willing and able to act when necessary, Slovak central bank chief Peter Kazimir said on Tuesday.

Kazimir, who took over at the bank this month, said that while economic sentiment was deteriorating, there were no fears that the 19-member currency bloc was heading toward a recession or deflation.

He also said that there was no need now to add to stimulus and the ECB would await hard data before deciding whether additional measures were needed.

Reporting by Tatiana Jancarikova; Writing by Balazs Koranyi; Editing by Andrew Heavens

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