FILE PHOTO: European Central Bank Governing Council member and OeNB Governor Ewald Nowotny addresses a news conference in Vienna, Austria March 28, 2019. REUTERS/Leonhard Foeger
BERLIN - The European Central Bank could set itself a more flexible inflation target given how difficult it has been to boost prices, ECB policymaker Ewald Nowotny said in remarks published on Sunday. “I personally believe that it would be reasonable to have some more flexibility like the Israeli or Czech central banks have done,” Nowotny told Germany’s Handelsblatt business newspaper. “I am in favor of keeping the 2 percent target but with a corridor of 0.5 or 1 percent, up or down. A precision landing is hardly possible.”Reporting by Joseph Nasr; Editing by Andrew Heavens
Wisdom from Austria? Better late than never.