Reuters reports that Finnish central bank chief Olli Rehn told that the European Central Bank should follow the U.S. Fed by accepting an overshooting of its inflation target to make up for many years of sluggish price growth.

According to Rehn, changes in the eurozone labour market and world economy had weakened wage inflation pressures and meant "the economy can cope with lower levels of unemployment...without rapid inflation".

Rehn said that a focus on full or maximum employment makes sense in the current context of a lower natural rate of interest.