- The data hasn't changed since last projections in September
- In December, we'll have new projections and will make a decision based on that new data
- We are keeping all options open given the uncertainties
We've been getting such comments for several weeks now. The ECB continues to keep the door open for another rate cut, but the bar was set really high given that they also added that they will need a significant reason to cut and that small or short-term deviations from their target won't call for a policy response.
