- Risks to inflation are well much balanced
- But trade disruptions from US could be potentially inflationary
- Downside risks to growth in the euro area have not emerged
- Meeting-by-meeting approach is to keep full optionality
- The environment is still uncertain
- There could be an option for another move on rates, optionality means optionality
Just some token remarks there as this mostly just reaffirms the current ECB stance in pausing through year-end. That unless something drastic changes on the data front in the months ahead.
