The European Central Bank pledged on Monday to react with equal vigour when inflation was too high as when it was too low, as it braced for five more years of economic upheaval. "To maintain the symmetry of the target, appropriately forceful or persistent monetary policy action in response to large, sustained deviations of inflation from the target in either direction is important," the ECB said in its new five-year strategy. Make sense of the latest ESG trends affecting companies and governments with the Reuters Sustainable Switch newsletter. Sign up here. Advertisement · Scroll to continue
Report This Ad "This will help to avoid inflation expectations becoming de-anchored and inflation deviations from the target becoming entrenched."
