ECB Opted for More Time to Analyze Economic Risks, Accounts Show

The European Central Bank said policy makers opted to take more time to analyze downside risks for growth and inflation in the 19-nation region.

While there was “broad agreement that downside risks to the outlook for inflation had increased,” the Governing Council “felt that more time was needed to gain a better understanding of the underlying driving forces,” the ECB said in a summary of its Sept. 2-3 monetary-policy meeting. “The president concluded that it remained premature to judge whether recent developments would have a lasting impact on the medium-term outlook.”