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Don't 'over-dramatise' low inflation, says ECB's Nowotny
[NEW YORK] It is important not to"over-dramatise" low euro zone inflation because it should begin to rebound this summer as energy prices rise, a European Central Bank policymaker said on Wednesday.
ECB governing council member Ewald Nowotny, addressing a New York audience, said too-low inflation is mainly due to depressed energy prices, noting that core measures are higher and "quite relevant."
Prices should begin to "normalise" this summer, he said.