ECB, Governments Should Boost Policy Coordination, Belgium Says

Eurozone countries and the European Central Bank need to coordinate fiscal and monetary policies as they strive to bring inflation down to the ECB’s target of 2%, according to Belgian Finance Minister Vincent Van Peteghem.

Euro-area inflation stopped slowing in August, presenting central bank officials with a dilemma as they contemplate whether upward pressure on prices is too persistent to risk a pause in interest-rate hikes. Numbers last week showed underlying inflation slowed in August, though the headline number was stable. At 5.3%, both are considerably above the central bank’s 2% goal.