ECB: Need more data to see if tentative signs of stabilisation provide firmer ground for optimism

Author: Justin Low | Category: Central Banks

ECB releases its account of the January policy meeting - 20 February 2020


  • Data points to positive but modest growth ahead
  • Manufacturing may be bottoming but not clear if services slowdown is over
  • Model suggests growth is stabilising, but below potential
  • Encouraged by countinued gradual upward trend in some core inflation indicators
  • Important to acknowledge positive signs without being too optimistic
  • January meeting decision
This sort of just says that they are viewing the current situation as not being the glass half-full nor is it the glass being half-empty. That said, this hasn't really taken into account their considerations for the coronavirus outbreak so it is a bit dated.

The full release can be found here, for those interested.

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