ECB publishes economic bulletin of its January monetary policy meeting
- Economic indicators signal a moderation in global growth momentum
- Downside risks have been increasing
- Rising labour cost pressures did not translate into further increases in price pressures
- Headline inflation is likely to decline further over coming months on lower oil prices
Not surprising to see a moderation in the ECB's outlook on growth momentum and headline inflation. Though, there are some members that are still latching onto the narrative that things are fine as core inflation is still seen holding steady. Let's see how things go further down the road in the coming months.
