ECB cut rates to avoid damage to economy, meeting minutes show
ECB cut rates to avoid damage to economy, meeting minutes show
Hawkish policymakers agreed with move because of a strengthening ‘disinflationary trend’
The whole information is in this paragraph:
The central bank’s governing council gave unanimous support to October’s decision to cut rates by 0.25 percentage points to 3.25 per cent, arguing that “the disinflationary trend was getting stronger” and that it was important to avoid “harming the real economy by more than was necessary”.
The rest is basically padding and speculation, which can be summarized with:
"On december there could be a cut up to 50 points, or none, no one knows because we have no idea what is going to happen and we are going in blind. The growth was higher than expected (.4 instead of .2) but the inflation was too (2, instead of 1.7)."
What a time to be alive. I'm not worried at all about the future.