Inflation in the euro zone is not at the level the European Central Bank wants it to be, ECB policymaker Klaas Knot.

Euro zone prices rose by 1.7 percent year-on-year in April from 1.4 percent in March. The acceleration offered some mild relief to the ECB, which targets inflation of just below 2 percent in the 19-nation eurozone.

Knot, the Dutch central bank governor, said the current situation was "not full convergence to below but close to 2%, I think. We have a figure in mind that is clearly closer to 2% than the number we have seen over the last five, six years or so. The only thing that we can do is to keep the pressure up, to make sure the economy continues to perform at high levels of capacity utilisation and the economy continues to print GDP numbers in excess of potential growth. At some point this chain of events will also lead to higher prices."