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© Reuters. FILE PHOTO – The European Central Bank’s logo is seen outside of its Frankfurt headquarters, Germany on April 26, 2018. REUTERS/Kai Pfaffenbach

DUBLIN (Reuters) – Fears of excessive euro zone inflation are overstated “at the moment” but policymakers must recognise there is considerable uncertainty about the persistence of price pressures, European Central Bank governing council member Gabriel Makhlouf said.

Makhlouf (Ireland’s chief central banker), stated that he believes that excessive inflation fears are exaggerated at present and that current price pressures reflect temporary factors that will diminish over time.

There is a lot of uncertainty around the persistence price pressures so we must be careful with how we interpret the (inflation data) and outputs from our models.

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