January 24, 2020 / 10:04 AM / a month ago

ECB's Knot takes cautious view on recent core inflation rise

FILE PHOTO: ECB board member Klaas Knot appears at a Dutch parliamentary hearing in The Hague, Netherlands September 23, 2019 REUTERS/Eva Plevier

DAVOS, Switzerland (Reuters) - There are some early sign that underlying inflation in the euro zone is finally moving up but it is too early to become optimistic about this trend, European Central Bank policymaker Klaas Knot said on Friday.

“We do see some initial signs of underlying inflation going up very, very, very slowly but it’s too early to be optimistic about that,” Knot said during a panel discussion at the World Economic Forum.

The ECB left policy unchanged on Thursday but said that risks to the growth outlook have receded and also took a more optimistic view on inflation, which has undershot its target since 2013.

Reporting by Balazs Koranyi; Editing by Francesco Canepa

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