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ECB deputy seeks to boost inflation

A senior European Central Bank official has insisted that policymakers do all they can to boost weak eurozone inflation, despite warnings that any extension to the ECB's bond-buying programme could increase risks for the bloc's financial system. In its financial stability report, presented yesterday, the ECB said riskier corporate bonds and some forms of bank debt are already looking overpriced as investors search for yield in an environment of ultra-low interest rates. The central bank identified an abrupt reversal of this search for yield as the main danger to financial stability in the region. But ECB vice-president Vitor Constancio said the primary responsibility of the central bank was to ensure that inflation – which stood at 0.4% in October – stayed close to the target of just under 2%.

 

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