ECB’s Rehn: Inflation is gradually converging to target

ECB governing council member Olli Rehn, commenting on today’s flash Euro-zone CPI print, said that Euro-area inflation is gradually converging to target, though inflation just above 1% reflects weak domestic price pressure.

Additional quotes: 

   •  Expects ‘mild rebound’ in growth in Q4.
   •  Prospects for returning to conventional interest rates, balance sheet have strengthened.
   •  Natural rate significantly lower than before crisis.
   •  Emphasises need for gradual steps.