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ECB's tools effective in boosting inflation - Praet

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By Reuters
ECB's tools effective in boosting inflation - Praet
FILE PHOTO: European Central Bank (ECB) executive board member Peter Praet speaks during an interview with Reuters in Frankfurt, Germany, March 14, 2018. REUTERS/Ralph Orlowski   -   Copyright  RALPH ORLOWSKI(Reuters)

FRANKFURT (Reuters) – The European Central Bank’s policy tools are powerful enough to return inflation back to the bank’s target, ECB chief economist Peter Praet said on Wednesday.

“Our forward guidance on rates and re-investment policy offer an effective combination of instruments to support a durable return of inflation to below, but close to, 2 percent,” Praet said in Madrid.

(Reporting by Paul Day and Jesus Aguado; Writing by Balazs Koranyi; Editing by Matthew Mpoke Bigg)