European Central Bank's 'approach to monetary policy must remain open-minded', says chief economist

Most policymakers say there would need to be major deviations from their baseline scenario to justify further easing after eight quarter-point reductions within a year

The September European Central Bank staff projections saw inflation slowing down to 1.7% next year before returning to 1.9% in 2027. File Picture: Hannelore Foerster/Bloomberg via Getty

Two of the European Central Bank’s top policymakers described an inflation outlook that doesn’t face prevailing risks in either direction, suggesting that they have no inclination to move interest rates for now.

Chief economist Philip Lane and vice president Luis de Guindos acknowledged that a variety of factors to influence consumer prices in both an upward and downward direction.