European Central Bank's Inflation Target in Sight by Mid-Term.

The European Central Bank (ECB) expects inflation to converge around its 2% target in the medium term. This is according to the minutes of the ECB's last policy meeting, where it lowered interest rates to 2%. The reduction in interest rates is linked to the high uncertainty caused by the ongoing trade war, which has tightened financial conditions. Some ECB officials believe the current monetary policy stance is already expansionary.