- That considering shifts in international, domestic policy regimes are highly relevant for future inflation dynamics
- Orientation for monetary policy stance now is to make sure that current, prospective shocks to the economy do not lead to medium-term deviations of inflation from the target
- There has been a marked drop in energy prices and a substantial appreciation of the euro
- Currently, there is high uncertainty about the future of the international trade system
- Amid high uncertainty, it is vital to remain data dependent and take a meeting-by-meeting approach
- ECB is basing monetary policy decisions on an integrated assessment of all relevant factors
- It not only incorporates inflation path and the economy but also surrounding risks and uncertainty
- Full remarks
The comments here aren’t anything that stands out too much. It’s just a generalisation of the approach that the ECB has adopted all through this year so far.
This article was written by Justin Low at www.forexlive.com.