ECB forward guidance: Well-intended vagueness

The ECB is upbeat on the growth outlook but considers that inflation remains subdued
Nevertheless, it still expects inflation to rise to 1.7% in 2020
The refusal to label this as being sufficiently close to its objective reflects a cautious attitude as well as an effort of being vague for a good reason.

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BNP Paribas Team

BNP Paribas

BNP Paribas Economic Research Department is a worldwide function, part of Corporate and Investment Banking, at the service of both the Bank and its customers.

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