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Jul 08 - 12:55 PM

EUR: ECB Strategy Review: Will ECB Now Meet Its Inflation Mandate? - Danske

By eFXdata  —  Jul 08 - 10:45 AM

Danske Research discusses its reaction to today's ECB strategy review.

"As the ECB strategic review resulted neither in the development of new monetary policy tools that could foster the achievement of the inflation target, nor changed its explicit target variable of HICP inflation at 2%, we do not see the probability of ECB meeting its inflation objective altered by the strategic review," Danske notes. 

"For ECB the conundrum remains that underlying inflation pressures remain anchored at a too low level and without the support from other policy areas (namely fiscal policy), ECB will continue to face challenges in living up to its inflation target in our view, be it defined as below, but close to, 2% or just 2%," Danske adds. 

Source:
Danske Research/Market Commentary

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