ECB Strategy Meeting Accounts: New strategy might imply transitory inflation overshoot

The European Central Bank's (ECB) new strategy might imply a transitory period in which inflation stays moderately above target, the accounts of the ECB's Strategy Meeting showed on Thursday, as reported by Reuters.

Forward guidance, asset purchases and longer-term refinancing operations will remain an integral part of the toolkit, the ECB reiterated and noted that climate change is an existential challenge for the world.

Market reaction

The shared currency showed no reaction to this publication and the EUR/USD pair was last seen gaining 0.25% on the day at 1.1872.