Summary
- Economic expansion strengthening (unchanged) and broadening (changed)
- Private consumption continues to be supported by employment gains and household wealth (unchanged)
- Risk to growth outlook balanced (unchanged)
- Missing stronger inflation dynamics and inflation remains subdued (unchanged)
- Substantial degree of monetary accommodation is still needed to support financing conditions necessary to secure a sustained return of inflation rates towards levels that are below, but close to, 2% (unchanged)
- If outlook becomes less favorable, ECB stands ready to increase its asset purchase program in terms of size and/or duration (unchanged)
- Private, non-financial corporation loan growth remains steady (unchanged) while credit standard for loans eased (changed)
Monetary policy decision unchanged.