- Data, gas price developments point to inflation falling more strongly in the coming months than envisaged in December
- Even if gas prices returned to levels before Russia-Ukraine conflict, upward impact on core inflation still significant in short-term
Well, it depends on how you want to argue it I guess. In the case of the ECB, it is pretty much trying to find a balance of stating to markets that they will stick with a 50 bps rate hike in March but then what comes next may not be so certain.
