November 29, 2019 / 12:29 PM / 8 days ago

ECB board nominee Panetta says easy policy needed as inflation slows

FILE PHOTO: Senior Deputy Governor of the Bank of Italy, Fabio Panetta is seen in his office ahead of his appointment to the European Central Bank's executive committee, in Rome, Italy September 26, 2019. REUTERS/Remo Casilli

FRANKFURT (Reuters) - Italy’s nominee to the European Central Bank’s board, Fabio Panetta, struck a dovish tone in his first official comments on Friday, saying the inflation outlook was disappointing and warranted an easy policy.

“Recent data indicate that the inflation outlook seems to fall short of the Governing Council’s inflation aim of below but close to 2%, and hence calls for an accommodative monetary policy,” Panetta said.

Reporting By Francesco Canepa

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