- Inflation has stabilised at the targeted level, but the risks remain high
- Economic activity is picking up faster than previously observed
- Labour market conditions are in good shape
It now seems to be that they will push the narrative of risks being "more balanced" after Lagarde's change up in communique yesterday. For now, all it means is still that the ECB is on pause mode. But come December, it will depend on what the data says in the months ahead.
