September 12, 2017 / 2:08 PM / 3 months ago

ECB will eventually hit inflation target: Constancio

FRANKFURT, Sept 12 (Reuters) - The European Central Bank’s unconventional policy tools have successfully fought of the threat of deflation and will eventually raise inflation back to target, ECB Vice President Vitor Constancio said on Tuesday.

“By keeping a sufficient degree of monetary policy accommodation we can be confident that our goal will eventually be reached, in accordance with our mandate,” Constancio told a conference in Frankfurt.

Having undershot its target for over four years, the ECB is now contemplating whether to ease back on stimulus, accepting that inflation will take longer to reach its target of almost 2 percent. (Reporting by Balazs Koranyi; editing by John Stonestreet)

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