In view of continued inflationary volatility, the ECB did not change its language towards the financial markets on Thursday 20 July, deciding instead to push back any discussion on a potential tightening up of monetary policy, in particular the exit strategy for the 'quantitative easing' (QE) operation, until the autumn.
The Governing Council has faith in the recovery of the Eurozone economy, but unanimously agrees that it is too early to change the accommodative monetary policy, the...