European Central Bank President Christine Lagarde said on Thursday that the current rise in euro area inflation is likely to be temporary and underlying price pressures are expected to pick up gradually.
Yet, inflation over the medium term is likely to remain well below the target, she added.
On July 8, the ECB had adopted a symmetric 2 percent inflation target that will allow a temporary overshoot in inflation, following a monetary policy review that was launched last year.
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