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ECB's Coeure says not an option to give up on inflation target

Reuters
Benoit Coeure, member of the Executive Board of the European Central Bank (ECB), attends a Lamfalussy Lectures Conference in Budapest, Hungary, February 1, 2016. REUTERS/Laszlo Balogh (Reuters)

FRANKFURT (Reuters) - Euro area inflation will rise only gradually but giving up the target is not an option even if the European Central Bank has a "very flexible" interpretation of its medium-term objective, ECB board member Benoit Coeure told a German newspaper on Sunday. "Silently giving up on the commonly agreed inflation objective, which has served the ECB well for the last 13 years, is not an option," Coeure wrote in Frankfurter Allgemeine Sonntagszeitung. (Reporting by Balazs Koranyi)