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By Dr. Thomas GITZEL, Chief Economist, VP Bank Group
The head of the European Central Bank ECB is confident that inflation rates will be higher in the future. The economic risks continue to be regarded as "largely balanced". For Italy, the ECB president expects a solution to the budget disputes.
Mario Draghi sees no reason to change course despite the emerging clouds in the economic sky. It is clear that the ECB wants to wait for its economists' new projections. Mario Draghi stressed this several times. The new estimates for economic growth and inflation will be available in December. The monetary policy orientation will then be adjusted on the basis of these figures. If the economic outlook does not deteriorate any further until then, the...
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