- Small inflation deviations are no reason to panic.
- Euro appreciation could undermine European competitiveness.
- Eurozone economy is a delicate balance as a result of countervailing forces.
- There are downside risks but no one is sure they will materialise, so we have to wait and see.
- If December comes and we remain in balance, then we won't move.
- If something significant and obvious happens before October, then we don't need a forecast to make a decision.
- We are not committed one way or the other.
He's just reaffirming the ECB stance of a hard pause and that small deviations from the 2% target on both sides won't automatically call for rate adjustments.
