Luxembourg Central Bank Statement

Author: | Published: 5 Sep 2017

Economic growth in the euro area has continued to strengthen, with the recovery broadening across sectors and countries. The economic outlook and the balance of risks have improved. While headline inflation has picked up, underlying inflation remains subdued, notably due to muted wage growth. In July 2017, the Governing Council of the European Central Bank (ECB) considered that a very substantial degree of monetary policy accommodation was still needed to help inflation become self-sustained and safeguard the anchoring of inflation expectations.

The conventional and unconventional monetary policy measures implemented over the past years by the Eurosystem have been pivotal in easing financing conditions and fostering the provision of...



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