September 15, 2017 / 9:07 AM / 10 months ago

ECB's Lautenschlaeger says it's time to cut bond purchases

TALLINN, Sept 15 (Reuters) - It is time the European Central Bank scales back its bond purchases as brisk economic growth in the euro zone and low interest rates will bring inflation back to the ECB’s target, Sabine Lautenschlaeger said on Friday.

“The buoyant growth coupled with the monetary accommodation will take us back to an inflation rate which is in line with our goal,” Lautenschlaerger, the most outspoken hawk on the ECB’s board, told the Eurofi symposium in Tallin.

“There’s little doubt about that. Hence, it is time to take a decision now on scaling back our bond purchases at the beginning of next year.”

The ECB targets inflation of just under 2 percent over the medium term. (Reporting by Francesco Canepa; Editing by Alison Williams)

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