April 6, 2017 / 12:00 PM / 5 months ago

Too soon to declare victory on inflation front: ECB's Constancio

FILE PHOTO: The headquarters of the European Central Bank (ECB) in Frankfurt, Germany, June 28, 2015. REUTERS/Ralph Orlowski/File Photo

FRANKFURT (Reuters) - It is too soon for the European Central Bank to declare victory in its effort to raise euro zone inflation back to its target, the ECB’s vice president said on Thursday.

“The euro area is experiencing a resilient recovery, sustained by monetary policy,” Constancio said.

“But it is too soon to declare complete success: we have yet to secure a sustained convergence in inflation towards our goal of close to but below 2 percent over the medium term.”

Reporting By Francesco Canepa, editing by Larry King

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