ECB sees increased risk to inflation goal: Praet

The risk of the European Central Bank missing its inflation target has increased due to commodity price falls and weakness in some overseas economies, ECB Executive Board member Peter Praet said on Wednesday.

PHOTO: AFP

AUG 26, 20157:01 PM

[MANNHEIM] The risk of the European Central Bank missing its inflation target has increased due to commodity price falls and weakness in some overseas economies, ECB Executive Board member Peter Praet said on Wednesday.

"Developments in the world economy and commodity markets have increased the downside risk in achieving the sustainable inflation path towards two per cent; the risk has increased," Mr Praet told reporters on the sidelines of a conference.

"The governing council will closely monitor all incoming information," he said. "There should be no ambiguity on the willingness and ability of the governing council to act if needed."

REUTERS