ECB's Mersch says too
early to declare victory over weak economy
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[January 06, 2017]
PARIS (Reuters) - It is
still premature to declare victory over economic
weakness in the euro zone despite the latest figures
showing a pick-up in inflation, European Central Bank
Executive Board member Yves Mersch said on Friday.
Yves Mersch, Member of the Executive Board of the
European Central Bank presents an oversized newly
unveiled 10 euro note at the headquarters of the
European Central Bank (ECB) in Frankfurt, January 13,
2014. REUTERS/Ralph Orlowski
"Statistics from just one month is not going to change our
position," Mersch told a conference in Paris.
Mersch, considered a hawk, added that wages were not growing
fast enough in the bloc to fuel inflationary pressure.
Inflation - below the bank's 2 percent target for over 3 years -
is now on the way up, probably exceeding 1 percent early next
year, in what could provide relief for the ECB but also an
argument for hawks on its Governing Council to reduce stimulus.
(Reporting by Leigh Thomas; Writing by Michel Rose; Editing by
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