WATERFORD, Ireland, Nov 20 (Reuters) - A range of economic data for the second half of the year point to continuing, moderate growth in the euro zone, one of the newest members of the European Central Bank’s governing council said on Wednesday.
“In the euro area we are also seeing protracted weakness. Both hard and soft data for the second half of the year point to continuing, moderate growth,” Gabriel Makhlouf, Ireland’s new central bank governor, said in his first major speech since assuming the role in September.
The former New Zealand treasury chief and senior British civil servant said he endorsed calls for a formal review of the ECB’s monetary policy strategy that would allow it take on board the lessons of the financial crisis as well as its experience of the low-inflation environment. (Reporting by Conor Humphries, writing by Padraic Halpin, Editing by Catherine Evans)