The presser is over and we'll get the full forecasts now
The exchange rate is what they use for their projections, not a target for policy
- 2016 lowered to 1.09 vs 1.10 prior
- 2017 lowered to 1.09 vs 1.10 prior
Investment has been scaled down and so has trade
ECB's latest forecast
It mostly looks like tinkering around the edges but it's surprising that unemployment hasn't been lowered more than it has. The cautious approach perhaps
