Further remarks by de Guindos
- That includes new definition of price stability
- Withdrawal of stimulus should be gradual, not premature
I reckon we are going to see a bit of a two-pronged element to the ECB meetings in the months ahead. The first being on when they will be scaling back PEPP purchases, which is to be decided in the September meeting.
The second, will be on the latest changes in to the statement and opinions on the new inflation target. I reckon the latter is going to stir up a bit of conflict among the hawks and doves, particularly on the case of overshooting or not.
