ECB chief economist Peter Praet comments in Frankfurt
- Confident that underlying strength of economy supports convergence of inflation to central bank's target
- ECB policy will remain predictable, will proceed at a gradual pace
- Underlying inflation expected to rise over the medium term
- Significant monetary policy stimulus is still needed
- All policy instruments can be adjusted as needed
Nothing new here from Praet. And the expectation is that the ECB is to maintain its current rhetoric all the way through December as it looks to end QE then. With oil prices coming off again now it could present a bit of a rocky start to 2019 for the central bank as inflationary pressures may come off which will add another problem to the currently seen sluggish economic growth.
