Below are some of the key highlights from the European Central Bank (ECB) Monetary Policy Meeting Accounts (minutes), published this Thursday.
• Rate guidance strikes balance between precision and flexibility.
• Given the uncertainty, it is prudent to leave the end of QE conditional on incoming data.
• Interest rates to stay at current levels, as long as needed, in order to raise inflation towards the target.
• Open-ended character of interest rate guidance should be emphasized.
• Governing council saw the impact of asset purchases on inflation as waning.
• Widely cautioned that slowdown was likely to extend into Q2 for some countries, implying near-term risks.
• Policymakers were in unanimous support of policy proposals.
• Risks to growth outlook are broadly balanced even if global risk factors increasingly prominent.
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