Euro zone inflation is moving in the right direction, Portugal's central bank governor Mario Centeno said Tuesday, despite his peers on the European Central Bank Governing Council striking a more hawkish tone in recent days.
"We target medium term inflation, we don't target February inflation, and the trajectory is very positive right now," Centeno told CNBC at the World Economic Forum in Davos, Switzerland.
"I don't say that overshooting is a possibility, but we don't need to do more than is needed to bring inflation in the medium term to 2%.
Since the end of 2022, all our forecasts to 2025 show a very well-anchored forecast for inflation in the medium term."
Services inflation is falling faster than it went up and is on a particularly positive course, according to Centeno.
Persons:
Mario Centeno, Centeno, Robert Holzmann, Holzmann, We've
Organizations:
European Central Bank Governing Council, CNBC, Economic, ECB
Locations:
Davos, Switzerland, Austrian