Inflation is on track to hit the medium-term 2% target in 2025. The ECB remains data-dependent, with no pre-commitment to future rate changes. View on euronews

Just as a reminder, back in September, the ECB expected a short-lived softening of the economy in the second half of this year and a subsequent return to potential growth from early 2025 onwards. At the same time, inflation was expected to come down to 2.0% by the end of 2025.

Traders raised their bets on quick-fire European Central Bank rate cuts on Thursday, taking the bank's first consecutive rate cut in 13 years as a green light from policymakers that a speedier easing cycle has begun.