- Rates must stay high to bring inflation back to target
- Still cannot be sure if we have reached a peak in rates
- The goal is in sight in terms of inflation, but not yet reached
- Inflation could still tick up in the coming months
- Does not see a hard landing for Eurozone economy
They are still continuing to push back against the market view and pricing at the moment. There is still time but if euro area economic conditions worsen going into Q1 next year, they might not be afforded much room to keep avoiding the conversation of rate cuts.
