- We are not precommiting to a path
- We will probably be more data dependent
- Some governors indicate what they think but those are not collective views, I assure you
- From one day to the other, our projections change dramatically
- Risks are all over the place
These comments were worth hearing because Lagarde underscored the uncertainty and the variability of policy.
- Decision was a consensus and no one opposed
- Holzmann abstained
- Won't be changing policy stance based on short term market moves
- Limited spread variation despite massive yield moves
- Our staff isn't in a position to yet evaluate how German policies might impact growth and inflation
- These things need to go through parliament and be implemented. It would boost growth but we will see
- We will reach inflation target in 2026, the delay is due to energy prices
