The data "confirm the ongoing disinflation process and this process will continue, according to forecasts, taking us even lower in 2024".
On interest rates, "we will continue to follow a data-dependent approach to determining the appropriate level and duration of restrictions, taking into account the inflation outlook, underlying inflation dynamics and the strength of monetary policy transmission."
ECB President Christine Lagarde said this while speaking to the Economic and Monetary Affairs Committee of the European Chamber.
"We are confident that in terms of direction we are moving towards 2% in a timely manner but at the moment we do not have enough to be certain of the solidity" of this outcome "and we do not want to run the risk of a reversal. That is why we need further confidence" to act suitassi, he added.
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