ECB officials saw more easing as appropriate if baseline holds

Despite inflation ticking higher last month, policymakers are confident of meeting their 2% goal in 2025 and remain concerned about Europe’s sluggish economy

Minutes from the December meeting of the European Central Bank show the measured pace of interest rate cuts was consistent with the general notion that more 'check points' had to be passed. File Picture: Bernd Kammerer/AP

European Central Bank (ECB) officials judged that interest rates could be cut further if consumer prices develop in line with expectations, an account of their last policy decision showed.

A “cautious approach was still warranted in view of the prevailing uncertainties and the existence of a number of factors that could hamper a rapid decline in inflation to target,” according to the summary, published on Thursday.