ECB's Praet: There has been some slowdown in Eurozone economy

Comments by ECB chief economist Peter Praet in London

• Slowdown primarily reflects a loss of momentum in global activity
• To proceed with prudence, patience and persistence in policy
• Policy will remain predictable, ECB to proceed at a gradual pace
• Guidance on rates has been solidly internalised by market participants
• Significant monetary policy stimulus is still needed
• Underlying inflation is expected to increase further
• Strength of economy continues to support confidence that inflation convergence towards ECB target will happen

The same old message being reiterated by Praet here with regards to guidance/monetary policy. And it continues to appear that they are still brushing aside the slowdown seen in the Eurozone until they clear the path for QE to end this at the end of the year.