ECB Sees Inflation Path On Track, Keeps Data-Driven Rate Stance

The European Central Bank said recent economic indicators remain broadly in line with its previous projections, noting that domestic price pressures have eased and wage growth is moderating slightly. The Governing Council reiterated that interest-rate decisions will be taken on a meeting-by-meeting basis and driven by a comprehensive assessment of the inflation outlook, associated risks and incoming economic and financial data. Policymakers underscored their readiness to deploy all available instruments to steer inflation back to the 2% goal and ensure the smooth transmission of monetary policy across the euro area.