- Inflation expected to hit ECB's target in 2025.
- Eurozone economy will grow slowly and recover gradually.
- Salary and services inflation remain persistent, maintain risk of inflation moderating more slowly than expected.
- If fresh statistics and forecast support current inflation and growth view, ECB should continue to cut rates.
- Downward direction of rates is clear and the pace depends on the data.
- We can cut in December if data and forecasts back it.
- My assessment is that we are moving towards neutral rates from restrictive rates.
ECB's Rehn