ECB Agreed It Was Premature to Adjust Forward Guidance

The transcript discusses the European Central Bank's (ECB) cautious approach to removing monetary stimulus and ending quantitative easing (QE). Mario Draghi emphasizes a slow and steady strategy, addressing market expectations and internal debates within the ECB. The focus is on inflation not meeting targets and the differing views among ECB members on the pace of policy changes. The future of ECB's forward guidance remains a topic of discussion, with some members advocating for faster adjustments to reflect economic conditions.

What is Mario Draghi's initial message regarding the ECB's approach to removing stimulus?

How did the markets interpret the ECB's forward guidance earlier this year?

What does the discussion about changing the forward guidance indicate about the ECB's future actions?

What are the differing views among the Council members regarding the pace of asset purchases?

What is the significance of the phrase 'the direction of travel is clear' in the context of ECB's monetary policy?