Buba's chief economist Jens Ulbrich comments on inflation and the ECB via Reuters

  • Says ECB should look through the impact of the oil price decline
  • Inflation is slightly lower than the ECB;s June forecast
  • Core rate still points upward
  • Would prefer to look through oil price drop affects on inflation unless we see second round effects on the economy

The problem the ECB has is that they can't do anything to offset the fall in energy, nor any damaging pass through. If those affects do come it's usually too late to do anything about them anyway