Inflation will return to just
below the target of 2%, European Central Bank (ECB) President
Mario Draghi said Tuesday.
"We are aware of the risks of a prolonged period of low
inflation," Draghi said.
"I am confident, we will bring inflation close to, but
below, 2% as per our mandate," he continued.
The annual inflation rate in the eurozone was 0.7% in
April, well below the ECB's medium-term target of about 2%
inflation as countries in the common-currency area struggled to
emerge from four years of economic crisis.
The ECB chief also said separately that the new European
parliament that emerged from recent elections would be "able to
play a constructive role".
"The prospect of a European parliament that is no longer
able to function did not come to pass," he said of the election
results in which Euroskeptic parties nonetheless made big gains
across the 28-member European Union.
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