May 23, 2018 / 1:53 PM / 9 months ago

ECB can afford to wind down asset buys: Makuch

FILE PHOTO: The logo of the European Central Bank (ECB) is pictured outside its headquarters in Frankfurt, Germany, April 26, 2018. REUTERS/Kai Pfaffenbach

BRATISLAVA (Reuters) - The European Central Bank’s 2.55 trillion euro ($2.99 trillion)bond purchase program has achieved what it could and the bank can now afford to wind it down, Governing Council member Jozef Makuch told reporters on Wednesday.

Makuch added that he was confident inflation would rise in the coming years and would hit the ECB’s elusive target of almost 2 percent in 2020-2021.

“The crucial thing is that we are returning to normal, to normal policies,” he said.

Reporting by Tatiana Jancarikova; Writing by Balazs Koranyi; Editing by Catherine Evans

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