Euro area real GDP has expanded for 19 consecutive quarters. The latest economic data and survey results point towards some moderation of late, following several quarters of very strong growth Inflation developments, however, remain subdued, and we have not yet met the Governing Council’s three criteria – convergence, confidence and resilience – for a sustained adjustment in the path of inflation, which is our stated condition for ceasing our net asset purchases. Overall, an ample degree of monetary stimulus remains necessary for underlying inflation pressures to continue to build up and support headline inflation ... (full story)