Peter Praet on the wires
Recovery of the economy is becoming increasingly solid
Downside risks to the outlook have further diminished
Downside risks still prevail
We will be able to draw on a more expanded information set in June, than is available today
Continued mon pol support for demand remains key to inflation converging
- Wages have to be stronger to achieve a sustained adjustment in the path of inflation
- There is not yet sufficient evidence that the strengthening in PPI at the earlier stages of the pricing chain will be durably transmitted
The bold line isn't anything we don't already know needs to happen but its mention suggests that it may become a key focal point if Draghi want's to grab an excuse not to tighten. Remember how the Fed virtually went through every excuse in the book why they weren't going to hike meeting to meeting through 2015? Expect the ECB to do the same.
