• The pace and number of further rate cuts will depend on inflation developments

I want to say that his comments are a bit incomplete for now as the ECB has clearly put more emphasis on the economy in their last two rate cuts, as opposed to the inflation story. But they can be happy that the disinflation trajectory is still largely intact I guess, even with a couple of bumps seen.

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