ECB's Praet: Economic expansion is not yet feeding through into higher inflation

The ECB recently published an interview with Peter Praet, Member of the Executive Board of the ECB, with key quotes found below:

• The priority is to finalise the banking union, in other words to truly break the bank-sovereign nexus.
• The aim of the banking union is for banks to be able to manage their balance sheets as a single entity, regardless of their location in the euro area.
• A labour market that is too rigid in certain countries may inhibit the good functioning of the monetary union. 
• Macron's reforms are very encouraging.
• Macroeconomic imbalance adjustments are not made via the exchange rate in the monetary union. 
• Our main objective is to ensure price stability.
• Our monetary policy measures have played a key role in the economic recovery.
• The economic expansion that is under way is not yet feeding through into higher inflation. 
• We had concluded that we would decide in the autumn on the calibration of our purchase programme for the period beyond the end of the year.