ECB 'Not Exactly' Done, Says Former President Trichet

The transcript discusses the European Central Bank's (ECB) recent decisions, highlighting the market's preparedness and the Governing Council's unanimity. The main message is that interest rates will remain stable to achieve a 2% inflation target in the medium term. However, further rate increases are not entirely ruled out. The ECB has moved away from unconditional forward guidance, with a significant meeting scheduled for December. The discussion also touches on the risks and uncertainties in the global economy, emphasizing the need for data-dependent decisions.

What was the main message conveyed about the policy decision?

• The policy decision was unexpected.

• The policy decision aims to maintain current levels to achieve a 2% inflation target.

• The policy decision was made without unanimity.

• The policy decision was not well-received by the market.

What is the significance of the December projections according to the speaker?

• They are a critical event due to the risky global environment.

• They will confirm the end of rate hikes.

• They are a routine update with no major implications.

• They are expected to show a decrease in inflation.

What does the speaker hope regarding the ECB's rate hikes?

• That they have concluded and will help achieve the inflation target.

• That they will continue indefinitely.

• That they will be reversed soon.

• That they will increase significantly.

How does the speaker describe the global economic environment?

• Completely understood.

• Improving steadily.

• Extraordinarily risky and uncertain.

• Stable and predictable.

What approach does the speaker suggest for dealing with economic uncertainties?

• Ignoring global risks.

• Making decisions based on common sense and data dependency.

• Relying solely on past data.

• Following a fixed plan without adjustments.