“The outlook for growth confirms our confidence that inflation will converge toward our inflation aim of below, but close to, 2 percent,” ECB President Draghi said. “At the same time, measures of underlying inflation remain subdued and have yet to show convincing signs of a sustained upward trend.” “Our mandate is in terms of price stability. Victory cannot be declared yet,” Draghi told a news conference. Dropping its ECB’s so-called easing bias was largely symbolic as few if any expected bigger bond buying. Even Draghi called the move a “backward-looking measure”.
This week markets will be looking at:
Final CPI (Friday 11:00)