The Eurozone economy is weaker than expected, according to the statements of its Executive Board member, Frank Elderson in the Slovenian daily Delo, while he said that at the next meeting the bank should assess its impact on . “Some recent indicators suggest that the risks of lower economic growth are becoming real,” the ECB member said in an interview today (8.20.2024). “We should therefore carefully assess whether this has an impact on our inflation forecasts”. Elderson, who rarely comment publicly on monetary policy, according to a Bloomberg report, said officials come “with an open mind” at the October 16 and 17 meeting and look forward to “a very genuine and open debate”. The ECB is expected to reduce borrowing costs for the third time this year at the Slovenian meeting. Policy makers have begun to worry more about the economics of the expected economic elements – especially the risk of sudden deterioration in the labour market.
Elderson (ECB): The economy is weaker than expected – inflation forecasts must be assessed
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