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The European Central Bank can tolerate inflation below 2% for some time but will have to take action if price pressures keep falling short of its target sustainably and expectations start to slide, according to outgoing Governing Council member Mario Centeno .
A reading of inflation in 2028 — to be added to the ECB’s December projections — will almost certainly undershoot 2%, the head of Portugal’s central bank said in an interview in Copenhagen, where he’s attending a meeting of European finance chiefs for the final time.