ECB's Panetta: It would be unwise to pre-commit on future policy steps

• Should take moderate, careful steps in adjusting policy
• So as to not suffocate the as of yet incomplete recovery
• There is a case for central bank to accompany the recovery with a light touch
• Inflation outlook has pitfalls on both sides
• Need to be certain that removing accommodation will not trigger market turmoil

His full speech can be found here but the headline remark is more or less the key takeaway in all of this. He elaborates further about the two-sided risks to the inflation outlook and how the ECB policy steps could be detrimental if they move too early. If anything else, it doesn't sound like they are in a hurry to act unless inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term forces their hand but then again, other governing council members also have their own thoughts on the matter.