Price stability not enough to achieve growth.Improving productivity and competitiveness as well as having properly functioning labour market are also necessary.The ECB is not almighty.We can do what we can do.We can bring inflation down and now we think that we have achieved our target.We are confident that it will be stable around these levels.
There isn’t much in terms of monetary policy comments here, but it’s been pretty clear that the ECB has declared victory against inflation. In terms of productivity and other stuff, the EU seems to be going in the right direction with investment in AI, cutting “red tape” and increasing fiscal spending.
This article was written by Giuseppe Dellamotta at www.forexlive.com.