"I think it would make sense for the ECB to include broader measures of inflation in its considerations, in addition to the consumer price index HICP, "said Wieland at the virtual conference, which normally takes place in Sintra, Portugal. According to Wieland, with the inflation target of below but close to two percent, the ECB already has sufficient flexibility. Wieland's presentation was part of the panel on "Inflation objective, structural forces, and central bank communication".
The general topic of the conference was "Central banks in a shifting world". The ECB is currently conducting a review of its strategy, in which it intends to examine all aspects of its monetary policy.