“At some point, policy needs to be driven by future risks rather than looking backwards,” European Central Bank (ECB) chief economist Phillip Lane said in an interview with the Financial Times (FT) on Monday.
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But that will be once we are confident that inflation is in line to meet the 2% target.
There is a bit of distance to cover in that regard.
Services inflation needs to fall further.
Once the disinflation process is complete, monetary policy needs to look ahead.
As reliance on data falls in priority, the new challenge will be to assess incoming risks.
That will still be done on a per-meeting basis.
Market reaction
EUR/USD was last seen trading 0.48% lower on the day at 1.0525.
Source: Fx Street

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