• Disinflationary process was well on track.
  • Inflation was still expected to remain above target in the near term.
  • Confidence in a timely and sutained convergence had increased.
  • High levels of uncertainty, lingering upside risks to energy and food prices, a strong labour market and high negotiated wage increases called for caution.
  • Potential future actions by the US Administration that might lead to a global economic slowdown.
  • Oil and gas prices up to now did not suggest a major change to the baseline in the staff projections.
  • It was relatively safe to make the assessment that monetary policy was still restrictive.
European Central Bank
European Central Bank
Source: Forex Live