ECB Accounts: Main risk no longer of tightening monetary policy too early but too late By eren_fxstreet ECB CentralBanks
meeting, members of the Governing Council concurred that the latest figures suggested that inflation was likely to remain elevated for longer than expected, per Reuters."Despite the latest higher than expected inflation outcomes, the extent of possible revisions in the march projections, in particular for the medium-term outlook, remained an open issue."
"View was widely shared that convergence to the ECB's medium-term inflation target was no longer a distant prospect.""It remained an open question whether the outcome of the march projections would show inflation reaching the ECB's target durably within the projection horizon."were no longer seen as consistent with the incoming data.""While downside risks to price stability had clearly receded, it was regarded as premature to draw conclusions.
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