ECB's Draghi on Patience in Timing of First Rate Hike: Statement

The video discusses the gradual return of inflation towards the ECB's objectives amidst economic uncertainties. It reviews recent economic developments, highlighting growth trends, labor market changes, and capacity constraints. The discussion covers both demand and supply-side factors, including external risks like global protectionism and rising oil prices. Wage dynamics and inflation expectations are explored, noting the slow reaction of inflation to growth. The ECB's monetary policy and future projections are outlined, emphasizing the need for patience, persistence, and prudence in policy decisions.

What is the significance of the relationship between slack and wages in the current economic context?

What are the expected trends in inflation according to the latest ECB projections?

What indicators are used by the ECB to assess the probability of inflation convergence?

How does the ECB's forward guidance influence market expectations?