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Eurozone inflation seems to have bottomed out: ECB's Smets

[LJUBLJANA] Inflation in the eurozone appears to have bottomed out, European Central Bank policymaker Jan Smets said on Thursday.

Addressing a conference in Ljubljana, Mr Smets also noted that ECB rate-setters decided last week that very easy monetary policy was still needed to bring inflation to the bank's target of just under two per cent.

"Inflation appears to have bottomed out," Smets, who is also Belgium's central bank governor, said.

The ECB is debating whether and how to scale back its monetary stimulus programme, and a decision on the future of the 2.3 trillion euro (S$3.7 trillion) scheme is expected in October.