ECB's Praet says policy working, will push up inflation

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December 11, 2015 7:05 AM EST

European Central Bank Executive Board member Peter Praet speaks during a meeting organised by The Economist in Cascais February 18, 2014. REUTERS/Rafael Marchante

FRANKFURT (Reuters) - The European Central Bank's policy measures, including its recently extended asset-purchase program, are delivering "tangible results" and will bring inflation back to the bank's target, the ECB's chief economist said on Friday.

"This complex package of policy measures has led to a significant easing in borrowing rates for the broad economy and should thereby continue to contribute to... the return of inflation rates in the medium term to levels closer to 2 percent," Peter Praet said.

"Early evidence confirms that the current policy measures are delivering tangible results."

(Reporting By Francesco Canepa; Editing by Balazs Koranyi)


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