By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Joachim Nagel said on Friday that he was encouraged by recent data with regards to inflation but warned against being too optimistic.
In a panel discussion at an event hosted by the Deutsche Bundesbank, which he heads, Nagel said that recent inflation numbers were ‘encouraging’.
‘There's often a tendency, when you have the goal in front of you and it's within reach, for a kind of over-optimism to set in’, he said. ‘I'd almost like to warn against that.’
The last mile of disinflation was ‘the stretch of road where prudence is important’, he said.
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