ECB Governing Council member Jan Smets
- “It will take somewhat more time to get to the objective than we thought earlier,”
- “The level of potential output may have become higher due to structural reforms and… slack may be bigger.”
- “It may take more than we thought and inflation pressures could take more time to build,”
- “(But) it is absolutely crucial that we meet our price stability objective and not accept a level below that; the objective is what it is and we are not there yet.”
- “We expect exchange rate movements to correspond to fundamentals,”
- “It would be too early to conclude that growth is plateauing,”
- “Some soft indicators have been a bit weaker but the recovery is on solid footing and we are in a clear, expansionary period.”
