ECB's Liikanen: ECB needs to be patient as underlying inflation lower than expected

Finland's Central Bank Governor Erkki Liikanen, also a member of the European Central Bank's (ECB) Governing Council, speaking to CNBC in Helsinki, was quoted saying:

   •  Underlying inflation in the euro zone may remain lower than expected even if growth is robust

   •  A gradual tightening of monetary policy will rest on a more solid basis when indications of inflation rates to potentially temporarily exceed two percent become more prominent in inflation expectations

   •  The euro area inflation rate is sustainable when the ECB’s price stability objective can be met even without an exceptionally accommodative monetary policy