BERLIN – ECB policymaker Joachim Nagel said on Friday he was encouraged by recent data on inflation in a number of euro zone economies but warned against over-optimism as the European Central Bank works to bring inflation down further to its 2% target.

“The last mile is certainly also the stretch of road where prudence is important,” said Nagel, president of Germany’s Bundesbank, at an event in Frankfurt.

“There’s often a tendency, when you have the goal in front of you and it’s within reach, for a kind of over-optimism to set in,” he said. “I’d almost like to warn against that.”

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