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The necessary level of a soft monetary policy will enable the European regulator to achieve the set task - to bring inflation to the level of 2%. Such a statement was made on Tuesday by Vitor Constancio, who is the vice-president of the ECB.
He is confident that the negative rates that the regulator is currently using are a successful tool for supporting the euro-zone economy, but such a special tool requires special attention. Konstanciu said that, like the leaders of other countries, the ECB does not know the answer to the question why wages and inflation are moving very slowly against the background of active economic growth, although it has always been different. If you adhere to a soft monetary policy, you can be sure that sooner or later the task will be accomplished.
The annual inflation rate in the region last month reached 1.5%, gaining 0.2% in relation to the July level, but the target level continues to be unattainable.
At the same time, it seems that the European regulator is ready to begin phasing out its stimulating program, which was its main weapon in the fight against low inflation. Many expect the regulator at the next meeting, scheduled for October 26, to outline the prospects of its asset redemption program.