- May be able to ease monetary conditions if persistently weak output accelerates the decline in inflation
- Monetary tightening has not yet had full impact and will continue to dampen demand in the future
- Risks to Eurozone economy are tilted to the downside
- The economy remains weak in Q4 2023
For now, they can say whatever they want about trying to keep the door open to tighten further and to hold rates higher for longer. However, markets have already made up their minds as seen here and will go where the data says instead.