Ex-ECB head Trichet denounces rigid inflation targeting

TOKYO (Reuters) – Former European Central Bank President Jean-Claude Trichet said on Wednesday it was not right to think that central banks must achieve exactly the level of inflation they target in a set period of time.

“There is a consensus among central banks that real success is to solidly anchor inflation expectations in the medium- to long-term in line with their definition of price stability,” Trichet said in a speech at a conference hosted by the Bank of Japan in Tokyo.

(Reporting by Leika Kihara; Editing by Chang-Ran Kim)