ECB accounts show cautious stance on further policy easing
Adds context, quotes in paragraphs 3-6, 8-10
FRANKFURT, Oct 10 (Reuters) -European Central Bank policymakers appeared content with the drop in inflation when they met last month but argued for a gradual policy easing given stubbornprice pressures, the accounts of their Sept. 12 policy meeting showed on Thursday.
The ECB cut interest rates last month and said it would keep an open mind about October but a long list of policymakers have already made the case for a follow-upmove, suggesting that a cut next week was likely despite some lingering opposition.
The ECB's account of the September meeting showed a more cautious mood, with the emphasis on the remaining hurdles towards stabilising inflation at the bank's 2% target despite an increasingly bleak outlook for growth.
"Members broadly concurred that a gradual approach to dialling back restrictiveness would be appropriate if future data were in line with the baseline projections," the ECB said in the accounts.
ING's global head of macro said the minutes revealed an ECB "that is increasingly concerned about disappointing growth but still very reluctant to give the all-clear on inflation".
The bank has cut interest rates twice already as inflation is now within striking distance of its 2% target and said that further easing is only a question of timing given weak growth, easing price pressures and slowing wage growth.
The bank next meets on Oct. 17 and a cut is almost fully priced in with a December move also firmly expected.
The debate at the September meeting seemed evenly balanced, with some policymakers already raising the risk of inflation coming in too low while others insisted it was "too early to declare victory" over high price growth.
"The baseline path to 2% depended critically on lower wage growth as well as on an acceleration of productivity growth towards rates not seen for many years and above historical averages," the ECB said.
"Conversely, it was stressed that inflation had recently been declining somewhat faster than expected, and the risk of undershooting the target was now becoming non-negligible."
Reporting by Balazs Koranyi
and Francesco Canepa; Editing by Toby Chopra
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
