European Central Bank President Christine Lagarde has dismissed a recent uptick in euro zone inflation as "really minor".
The ECB chief said that much higher readings would be needed to change the picture.
"We're seeing inflation moving a teeny, tiny little bit but this is really minor," Lagarde said during a panel discussion at the World Economic Forum in Davos today.
"It would take much higher numbers to actually change the picture fundamentally," she added.
Meanwhile, ECB rate-setter Klaas Knot said the bank should clarify its inflation target, currently defined as an annual rate of price growth below but close to 2%, so that it means the same to everyone.
"It is not an easily communicable concept that we currently have a 'close' and a 'below'," Knot said during a panel discussion at the World Economic Forum today.
"The outcome should be that we have an inflation objective that everyone on the Governing Council explains in identical terms," he added.
