• The European Central Bank does not need to dampen the euro zone’s economy even more to get inflation under control because demand is still weak, ECB board member Piero Cipollone said on Monday.
  • While cautious, Cipollone’s first remarks on monetary policy since joining the ECB late last year likely placed him in the dovish tradition of his predecessor and fellow Italian, Fabio Panetta.
  • Cipollone did not address the matter directly but said there was no need for curbing an already weak economy and an eventual recovery did not need to come with higher inflation.