ECB could gradually reduce interest rates if outlook holdsCurrent macroeconomic picture is consistent with normalisation of monetary stanceWe have reasons to believe that sticky services inflation is not abnormal in any way
Expanding on the headline remark, Panetta also advised his colleagues to stay the course as deviating from that would mean veering away from their supposed data-dependent approach.
This article was written by Justin Low at www.forexlive.com.
