Draghi Says ECB `Confident' Inflation Is Converging Toward Its Goal

The video discusses the slow response of inflation and wages, attributing it to factors like low productivity, structural reforms, and past low inflation. It highlights the gradual waning of these effects and the rise in nominal wages. The impact of pricing power and e-commerce on inflation is analyzed, with e-commerce showing little effect. The video concludes with the ECB's monetary policy measures to ensure inflation converges towards targets, emphasizing the importance of maintaining current financing conditions.

How do unit labor costs relate to wage growth and inflation expectations?

What factors contribute to the confidence in inflation converging towards the objective?

What guidance did the Governing Council provide regarding monetary policy?