June 16, 2019 / 9:17 AM / 4 months ago

ECB should show flexibility on inflation target - Nowotny

The euro sign is photographed in front of the former head quarter of the European Central Bank in Frankfurt, Germany, April 9, 2019. Picture is taken on slow shutter speed while the camera was moved. REUTERS/Kai Pfaffenbach

BERLIN (Reuters) - The European Central Bank could set itself a more flexible inflation target given how difficult it has been to boost prices, ECB policymaker Ewald Nowotny said in remarks published on Sunday.

“I personally believe that it would be reasonable to have some more flexibility like the Israeli or Czech central banks have done,” Nowotny told Germany’s Handelsblatt business newspaper. “I am in favour of keeping the 2 percent target but with a corridor of 0.5 or 1 percent, up or down. A precision landing is hardly possible.”

The ECB has an inflation target of close to but below 2 percent.

Reporting by Joseph Nasr; Editing by Andrew Heavens

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