Will wonders never cease. Via Goldman:
BOTTOM LINE: The Governing Council adopted a 2% inflation target in its strategy review and agreed that owner-occupied housing costs should be reflected in the HICP. Although the target is symmetric, the ECB signals tolerance to temporarily overshoot 2% inflation given the lower bound on interest rates, but does not call for make-up strategies. The strategy review included little news on the monetary policy instruments, stressing that policy rates remain the primary monetary policy instrument. The Governing Council agreed on a climate-related plan, incorporating climate factors in its monetary policy objective and adapting the design of its monetary policy operational framework.
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