ECB accounts affirm importance of restating data-dependent approach in communication
The fall in inflation was encouraging and had been broad-basedNo room for complacency and now is not the time to lower the guardCaution was warranted, as inflation would probably pick up in the near-termToo early to be confident that inflation battle has been wonA need was seen for continued vigilance and patience, and for the maintenance of a restrictive stance for some timeRestating data-dependent approach was seen to be importantMembers expressed increased confidence that inflation would be brought back towards the 2% target in 2025Full accountsThe above commentary isn't anything new and just reaffirms the central bank's current stance. There wasn't much of anything to speculate about the timing of a rate cut, so that doesn't add much colour to the current picture on the rates outlook. This article was written by Justin Low at www.forexlive.com.
- The fall in inflation was encouraging and had been broad-based
- No room for complacency and now is not the time to lower the guard
- Caution was warranted, as inflation would probably pick up in the near-term
- Too early to be confident that inflation battle has been won
- A need was seen for continued vigilance and patience, and for the maintenance of a restrictive stance for some time
- Restating data-dependent approach was seen to be important
- Members expressed increased confidence that inflation would be brought back towards the 2% target in 2025
- Full accounts
The above commentary isn't anything new and just reaffirms the central bank's current stance. There wasn't much of anything to speculate about the timing of a rate cut, so that doesn't add much colour to the current picture on the rates outlook.
