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Eurozone : ECB Minutes  
Released On 11/22/2018 7:30:00 AM For Oct, 2018

Highlights
The short-form accounts of the ECB's October meeting contained no surprises.

In terms of the economic outlook, recent economic data were acknowledged as being somewhat weaker than expected. However, they were still regarded as consistent with the baseline scenario of an ongoing broad-based economic expansion, supported by domestic demand and continued improvements in the labour market. Some recent sector-specific developments were noted as having an impact on the near-term growth profile and there was some evidence that uncertainties surrounding trade were affecting business. Even so, the risks to the forecast were still considered as broadly balanced although the threat of protectionism, vulnerabilities in emerging markets and persistent financial market volatility remained prominent.

Meantime, underlying inflation was expected to pick up, supported by a steady increase in wages and the build-up of pressures at the early stages of the pricing chain.

The assessment called for patience, prudence and persistence in monetary policy and the Governing Council duly recognised the need to maintain its accommodative stance. It would also reiterate its anticipation that, subject to incoming data confirming its medium-term inflation outlook, QE net asset purchases would finish at the end of December. However, it would reinvest the principal payments from maturing securities purchased under the APP for an extended period of time after the end of the net asset purchases. Forward guidance would continue to play a key role in influencing market expectations going forward.

Definition
The European Central Bank (ECB) meets about every six weeks to determine the appropriate stance of monetary policy. The precise details of the policy deliberations are kept secret for thirty years but, since the 22nd January 2015 meeting, summary version of the minutes have been made available around four weeks after the discussions have taken place.  Why Investors Care
 

2018 Release Schedule
Released On: 1/112/224/125/247/128/2310/1111/22
Release For: DecJanMarAprJunJulSepOct
 


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