European Central Bank confident on inflation

According to latest European Central Bank (ECB) minutes released today, officials are ever more confident over inflation and the ability of current policy to reign on deflation.

As per latest minutes monetary policy of ECB has succeeded in warding off the threat of falling prices and a "turning point" on low inflation had finally been reached. However ECB still believes in close monitoring.

Other key highlights:

• The balance of risks to the Euro area's economic outlook remains to the downside. According to ECB, lower energy prices and lower Euro has improved net export outlook but remains at risk of reversal.
• ECB believes monetary policy need to be accompanied with fiscal policy and structural reforms to maximized improvement in the Euro area.
• Developments in China might have greater implications to Euro area, given its prominence in Global trade.
• Financial market volatility as of now hasn't changed outlook, however ECB is closely monitoring that.

 Important highlight:

• Regional central banks are having some trouble to purchase the assets earmarked under the QE program.