- ECB Monetary Policy Meeting Accounts: Governing Council should consider whether side effects of negative rates need mitigation
Market news
23 May 2019
ECB Monetary Policy Meeting Accounts: Governing Council should consider whether side effects of negative rates need mitigation
- Confidence in recovery in the second half of 2019 somewhat lower but data is still consistent with a baseline scenario
- Some recent data has been even weaker than expected
- Signs of moderation in global activity have continued
- Says that trade weakness is still seen persisting
- Inflation remains uncomfortably below ECB's target
- Says that drop in a long-term gauge of inflation expectations mainly reflects a weaker economy and is not unanchoring
- Says that TLTRO terms to be considered at one of the forthcoming meetings
- Some officials argued for TLTRO to function as a backstop, some want to use it for adjusting the policy stance
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