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ECB's Noyer says euro zone situation is not deflation
February 6, 2014 / 6:47 PM / 4 years ago

ECB's Noyer says euro zone situation is not deflation

PARIS, Feb 6 (Reuters) - The euro zone’s fragile economic recovery and low inflation is “not normal, but not alarming,” said European Central Bank policymaker Christian Noyer on Thursday, denying that deflation was a risk.

On Thursday, the ECB maintained its key refinancing rate at 0.25 percent, surprising those who believed it would further trim the low rate, given falling inflation.

“I say it with the greatest firmness: the situation has nothing to do with deflation,” Noyer told Les Echos daily in an interview to appear in its Friday edition.

“The situation is not normal, but it’s not alarming.”

Reporting By Alexandria Sage; Editing by Robin Pomeroy

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