Remarks by ECB policymaker, Robert Holzmann
- ECB needs to be flexible as inflation outlook is uncertain
- It is important to drive on sight in the course of next year
- ECB needs credible projections to bring financial markets on board
- Forward guidance is important, needs to be remain credible
In other words, he's saying that they actually have no clue about how inflation developments are going to pan out despite Lagarde saying that their "analysis" that inflation is transitory is still the right one yesterday.
I wonder does a Magic 8-ball count as central bank "analysis" these days? :D
