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"With some exception, inflation is running well below target in most of Europe," Thomsen said in a press conference. "In view of this, we support the continuation of very accommodative monetary policy, not least by the ECB."
"In emerging Europe, the somewhat stronger but still-below-target inflationary pressures suggest a somewhat more advanced cyclical position," said Thomsen, who was speaking during the International Monetary Fund and World Bank spring meetings.
"This means that monetary policy in some parts of emerging Europe might have to be normalized earlier or faster than in advanced Europe."