- Activity to pick up strongly in 2022
- Eurozone growth has moderated
- Inflation projected to settle below target
- Need flexibility optionality
- High inflation largely due to energy
- Rising energy costs a headwind
- It's very unlikely we will raise rates in 2022 but we will remain flexible
- Omicron might have dampening effect and delay recovery but impact on supply side also to be seen
- Decision had a very large majority, a few members didn't agree with one or more parts of the package
- Energy prices are probably going to stabilize
- Not seeing second round effects in wages
- There is possibly upside in inflation
GDP forecasts:
- 5.1% in 2021 vs 5.0% in Sept forecasts
- 2022 4.2% vs 4.6% in Sept forecasts
- 2023 2.9% vs 2.1% in Sept forecasts
- 2024 at 1.6% (first forecast)
