“After expanding by 3.4% in 2022, euro area economic activity was weak in 2023, with real GDP growth stagnating in the final quarter. However, there are increasingly signs of a trend reversal and some forward-looking indicators point to a recovery over the course of the year."
This is what the president of the ECB, Christine Lagarde, said while speaking at the plenary of the European Chamber.
“The ongoing disinflationary process should continue, the Governing Council must be confident that it will lead us sustainably to our 2% target. We will continue to follow a data-dependent approach to determining the appropriate level and duration of the restriction,” Lagarde added.
"Looking forward, we expect inflation to continue to slow, as the impact of past upward shocks fades and tight financing conditions contribute to lower inflation."
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