Comments by ECB governing council member, Pablo Hernandez de Cos
- Inflation may be lower than forecast in the coming quarters
- Vaccine news is positive
- But will take time to see positive impact on economic activity
- Risks in the euro area are tilted to the downside
The downgrade in forecasts is very much expected amid tighter restrictions in the region that may last all the way through to Q1 2021. The move will also bolster the central bank's decision to ease further next month, so there's that.
