Executive Board member Benoit Coeure said euro-area inflation will converge “only very gradually” toward the European Central Bank’s goal, justifying the need to continue providing stimulus. Drawing a comparison with the U.S., where he noted that some fund managers anticipate an upside risk to price gains, the Executive Board member said “we see no such inflation tail risks at the current juncture.” He also said there is no concrete evidence that financial markets are starting to doubt the sustainability of the euro area’s economic expansion, and that investors aren’t questioning the ability of central banks to ... (full story)