Despite challenges from global trade disputes and geopolitical tensions, the eurozone economy has shown resilience, driven by solid private-sector balance sheets and earlier rate cuts. The ECB reiterated its data-dependent, meeting-by-meeting approach to future decisions and stressed it is not pre-committing to any rate path, the Council said in a statement.
The Council reaffirmed its readiness to adjust all policy instruments within its mandate to ensure inflation stabilises at two per cent in the medium term. It also highlighted the Transmission Protection Instrument as a safeguard against disorderly market dynamics that could disrupt monetary policy transmission across euro area countries.
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