MILAN (Reuters) – Board member Ignazio Visco said the European Central Bank should set a clearer inflation target and should attribute the opinions published in its minutes to the relevant policymakers for greater transparency.
Visco, who is governor of the Bank of Italy, told daily newspaper Il Corriere della Sera that the ECB’s current target of inflation below but close to 2% in the medium term was “vague and difficult to understand”.
“I think the target must be symmetrical,” he said in an interview published on Sunday.
“Levels of one percent or 1.5% are too low as we need flexibility margins to face crisis,” he said.
Visco said the