Vasile, the head of the Slovenian central bank, said:
- We are not committed to any predetermined course of interest rates.
- Inflation will be largely guided by core inflation and the service sector.
As European Central Bank policymaker Olli Rehn said:
- The bank will continue to make policy decisions based on the assessment of inflation prospects.
- Interest rate cuts by the European Central Bank support growth.
- We emphasize the current uncertainty to rely on new data on the economy.
- We will make decisions based on the assessment of inflation prospects, the dynamics of core inflation and the strength of the transition of monetary policy.
As ECB policymaker Joachim Nagel said:
- Core inflation is moving in the right direction.
- We expect to reach the inflation target at the end of next year.
The Governor of the Bank of France, François Villeroy de Galhau, also said:
- The ECB should continue to ease monetary policy gradually and with an appropriate degree of monetary tightening.
- The bank should reserve all its options for future monetary policy meetings.
- He warned that the ECB should be as aware of the risk of missing the inflation target as it is of exceeding it, as market inflation expectations are well below the ECB’s expectations.
