May 23, 2018 / 1:55 PM / a month ago

ECB can afford to wind down asset buys: Makuch

BRATISLAVA (Reuters) - The European Central Bank’s 2.55 trillion euro ($2.99 trillion)bond purchase program has achieved what it could and the bank can now afford to wind it down, Governing Council member Jozef Makuch told reporters on Wednesday.

FILE PHOTO: The logo of the European Central Bank (ECB) is pictured outside its headquarters in Frankfurt, Germany, April 26, 2018. REUTERS/Kai Pfaffenbach

Makuch added that he was confident inflation would rise in the coming years and would hit the ECB’s elusive target of almost 2 percent in 2020-2021.

“The crucial thing is that we are returning to normal, to normal policies,” he said.

Reporting by Tatiana Jancarikova; Writing by Balazs Koranyi; Editing by Catherine Evans

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