• Inflation figures have mostly brought positive surprises recently
• Does not want to put a figure on what „slightly lower“ means
• Monetary policy has played its part in bringing inflation down
• Euro area growth prospects have deteriorated in the meantime
• Growth could even be slightly below 0.8%, as projected in December
• Full transcript

All of the language here is to tee up rate cuts that are now likely to come in either April or June. He’s alluding to softer inflation and weaker growth. And those are the two key ingredients to start the recipe of easing monetary policy in the months ahead.

This article was written by Justin Low at www.forexlive.com.