The inflation rate for the euro area in April is expected tomorrow, Wednesday 30. After the weak figure of 0.5% in March a slight increase is expected (0.8%).
This number will remain well below the 2% target. In other words, the ECB monetary policy is poorly calibrated to the objective which the ECB has set itself. A convergence towards this target is not expected before many months (the ECB’s forecast is only 1.5% in 2016).
It is because of this last point, the adequacy of monetary policy, that we should expect a change in the ECB monetary policy, not the April figure which has an anecdotal side.
Otherwise it is very disturbing.