Earlier this week the ECB President Christine Lagarde mentioned that she is “really confident” that euro zone inflation is under control. The sentiment presented is in stark contrast to that revealed in the Fed minutes last night where the overall message was that the committee’s confidence in getting inflation back to 2% has been negatively affected and it will take longer to regain it. The minutes were recorded before the most recent, lower US CPI print but emphasises that it is going to take more than one decent print to get the Fed seriously considering interest rate cuts.
