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6 months ago
Euro zone 2017 inflation likely to be far higher than projected -Bundesbank's Weidmann
March 1, 2017 / 1:29 PM / 6 months ago

Euro zone 2017 inflation likely to be far higher than projected -Bundesbank's Weidmann

FRANKFURT, March 1 (Reuters) - Euro zone inflation is likely to be sharply higher in 2017 than earlier thought but will still dip towards the end of the year, Bundesbank president Jens Weidmann said on Wednesday, arguing that accommodative monetary policy remains appropriate.

"Assuming that oil prices do not rise any further... inflation this year is likely to be well in excess of the figure projected to date; for Germany, an upward revision of around one-half percentage point is expected, and this might also be the case for the euro area as a whole," Weidmann said in Ljubljana in a speech at the Slovenian central bank. (Reporting by Balazs Koranyi; Editing by Francesco Canepa)

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