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WARSAW, Oct 15 (Reuters) - New efforts are needed to boost price growth in the euro zone as inflation, even excluding energy prices, keeps undershooting the European Central Bank’s target, ECB governing council member Ewald Nowotny said on Thursday.
“In my view, it’s quite obvious that additional sets of instruments are necessary,” Nowotny, who is also the head of Austria’s central bank, said at an event in Warsaw.
He added these instruments should include both structural reforms as well as measures to stimulate demand.
The ECB, which targets an inflation rate of almost 2 percent and launched a 60-billion euros a month asset-purchase programme earlier this year, expects price growth this year to come in at 0.1 percent. It was negative in September. (Reporting By Francesco Canepa; Editing by Balazs Koranyi)