The European Central Bank (ECB) Chief Economist Philip Lane said on Thursday, “our revised forward guidance is a fundamental step in fulfilling our commitment to 2% inflation.”
Additional quotes
“Underlying inflation is not proxied by any single indicator.”
“Symmetrical inflation target means negative or positive deviations of inflation from 2% target are equally undesirable.”
“Systematic approach to policy embedded in forward guidance has the capacity to boost inflation expectations, strengthen inflation dynamics.”
Market reaction
EUR/USD is attempting a bounce from fresh 2021 lows of 1.1662, currently trading at 1.1682, still down 0.23% on the day.