ECB policymakers increasingly worried over too-low inflation
inflation falling below the central bank's 2% target, signalling a change in their focus after years of excessive price growth.
Inflation in the euro zone dipped to 1.7% last month and could be back at 2% on a durable basis in the first months of 2025, ending three years of excessive price growth, when inflation even briefly rose into double digits.
The central bank governors of France, Portugal and Finland argued on Tuesday that there may be excessive drag on prices because the economy is so weak while the ECB is still restricting the economy with relatively high rates.
The comments will likely reinforce bets for continued quick rate cuts, with markets already anticipating a reduction in borrowing costs at each ECB meeting through next spring.
«There is… (a) risk that inflation undershoots, especially if growth remains subpar,» French central bank chief Francois Villeroy de Galhau said in a lecture at New York University.
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