The ECB releases the accounts of its latest monetary policy meeting in December 2024
Members were increasingly confident that inflation would return to target in 1H 2025
A gradual dialing back of policy restrictiveness would be appropriate if baseline projection for inflation is confirmed over the next few months and quarters
There are still many upside and downside risks to inflation outlook, so should not let its guard down in the final stretch of the disinflation process
A cautious approach is still warranted amid prevailing uncertainties and the existence of a number of factors that could hamper progress on inflation developments
Some members noted a case could be made for a 50 bps rate cut (for December) and would have favoured more consideration on such a possibility
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