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European Central Bank confident inflation goal being reached

FRANKFURT, Germany (AP) — Top European Central Bank officials expressed confidence at their last meeting that inflation is trending toward levels more consistent with a strong economy after 2.5 trillion euros ($2.9 trillion) in bond-purchase stimulus.

The written account released Thursday of the Sept. 13 meeting showed that the strength of Europe’s economic upswing and accompanying wage increases for workers “continued to support confidence in the sustained convergence of inflation” toward the bank’s goal of just under 2 percent annually.

Inflation was 2.1 percent in September in the 19 countries that use the euro. The ECB officials were increasingly confident inflation will stay in line with its goal even after the monthly bond purchases to pump newly created money into the economy come to a scheduled end in December.

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