Speaking in Berlin
The current environment still falls short of a sustained adjustment in the path of inflation towards 2%
Ongoing recovery is predicated, to a large extent, on very favourable financing conditions
- Continued mon pol support is necessary
- The recovery is not yet sufficiently robust to ensure a self-sustained convergence on inflation to closer to 2%
- The ups and downs of monthly data are not relevant
- Underlying inflation dynamics remain subdued
He'll be choosing his words carefully while out and about in Berlin ;-) He's also done taken some time to pat himself (ECB) on the back for all their wonderful policy measures;
"The economy has now posted positive real GDP growth for 14 consecutive quarters. The unemployment rate is back to a single-digit figure. Economic sentiment is at the highest level recorded in almost 6 years. The monetary policy measures the ECB has taken over the past few years have contributed decisively to these positive developments."
