ECB Reveals new Forward Guidance, Signal Persistence And Overshooting Tolerance
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ECB Reveals new Forward Guidance, Signal Persistence And Overshooting Tolerance

Bottom Line: as Goldman summarizes, the Governing Council left all key policy parameters unchanged at today’s meeting, as expected, but operationalized its new monetary policy strategy by updating the forward guidance language in the Monetary Policy Decision (released at 12.45pm CET) and the new Monetary Policy Statement (read out at 1.30pm CET).

Rate lift-off is now conditional on inflation being...

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