Responses to the ECB: New inflation target "very close to those used by other central banks"
Some comments via Lloyds from their assessment of the European Central Bank on Thursday.
This in, very, very brief from a longer piece:
- no adjustments to the present monetary policy stance
- ECB did change its forward guidance ... The changes seem designed to emphasise that monetary policy seems set to remain very accommodative for a considerably further period of time.
- new symmetric inflation target around 2% .. is very close to those used by other central banks.
- ECB acknowledged that it may be necessary for inflation to be `moderately" above target for a period of time.
- Nor was there any indication from either the press release or ECB Residents Lagarde's press conference that the Governing Council had seriously discussed any further policy loosening in order to reach the target more quickly.
- Weidmann and Wunsch said to oppose new ECB rate guidance
- The euro climbs to the highs of the day. No dovish magic from Lagarde
- Lagarde Q&A: We want to see at least 2% inflation well-ahead of our projection horizon
- ECB's Lagarde opening statement: Delta a growing source of uncertainty
- Key change to the ECB statement in July
- ECB leaves key rates unchanged in July monetary policy meeting, as expected