In his keynote speech on inflation the Governor of the Central Bank of Malta, Professor Edward Scicluna explained that contrary to popular perception, the ECB has been praying and hoping that one day inflation would pick up from a decade of very low inflation and get itself anchored at around two percent. Anything above or below that rate is equally undesirable. The two percent would give enough leeway for monetary policy to be applied without the headache of negative rates, asset purchase programmes and the like.

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From left to right: Mr Christopher Dembik, Director and Economist at SAXO Bank, Ms Marisa Xuereb, President, The Malta Chamber, Professor Edward Scicluna, Governor, Central Bank of Malta and Mr Jude Darmanin, Senior Economist, Economics Department, Central Bank of Malta

Professor Edward Scicluna, Governor, Central Bank of Malta, during his keynote speech on inflation