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Investing.com -- European Central Bank Governing Council member Jose Luis Escriva expressed support for the ECB’s symmetric 2% inflation target in an article published Tuesday in Spanish newspaper Expansion.
The Bank of Spain governor wrote that this target "has been key to keeping inflation expectations anchored over the years, even during recent episodes of high inflation, and should remain our primary guide in the coming years."
Escriva emphasized the importance of patience when dealing with temporary inflation fluctuations.
He stated that "patience in not reacting quickly to possible temporary deviations in inflation is essential."
He also noted that "new times call for patience in case of temporary events and vigorous policies at key moments," suggesting a balanced approach to monetary policy implementation.
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