The European Central Bank's minutes from the December 2019 decision consist of positive comments on its main mandate – there are "mild indications" that core inflation is rising.
The bank is more cautious on the economy as a whole, saying that the data is pointing weak, yet stabilizing growth dynamics. The industrial slump may bottom out before spilling over to the services sector.
It notes that sentiment has improved over receding global trade tensions but that geopolitical tensions are "not conducive" to lowering uncertainty.
Regarding the strategic review, the minutes state that it is advisable not to talk about it until the full document is published.
EUR/USD has responded positively, rising to 1.1170, the highest since January 7.
Back in December, Christine Lagarde, the new President of the ECB, announced that the bank will conduct a strategic review during 2020. She refrained from expressing her views on monetary policy, saying she is neither a hawk nor a dove, but rather aspires to be a wise "owl."
Back in September, her predecessor Mario Draghi cut interest rates to -0.50% and restarted the bank's bond-buying scheme. Several Governing Council members from northern countries publicly criticized his moves. Lagarde, who assumed her role in November, aims to unify the institution.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.