ECB meeting minutes for 7th March policy decision

  • There
    had been further progress on all three elements, which warranted increased
    confidence that inflation was on track to reach the ECB’s target
  • More
    data and evidence were needed for the Governing Council to be sufficiently
    confident of this
  • Inflation
    was expected to continue its downward trend in the coming months
  • A
    bumpy profile and a trough were expected after the summer
  • There
    were signs that wage growth was starting to moderate
  • Members
    expressed increased confidence that inflation was on track to decline
    sustainably to the 2% inflation target in a timely manner
  • Important not to be complacent, as the
    disinflationary process remained fragile
  • The
    case for considering rate cuts was strengthening

This article was written by Arno V Venter at

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