ECB's Panetta: Can only increase rates when convinced that inflation can stabilise at 2% over medium-term

Remarks by ECB policymaker, Fabio Panetta

• The risks of excessive inflation and overheating are limited
• Inflation at 1.4% to 1.5% is insufficient for the ECB
• Fiscal, monetary support must continue to support Eurozone economy

Pretty much the same old remarks over the past few weeks by ECB policymakers for the most part. Inflation pressures are likely to keep up and push higher in the months ahead but any of which will surely not be able to get the ECB to move.