-Euro area inflation off target
The Eurozone that includes 19 EU members, which adopted the euro as their common currency, is still battling slow inflation and low growth rates.
The ECB, which is responsible for managing monetary policy in the euro area, is targeting inflation in the region of just below but close 2 percent to maintain price stability in the region. To achieve this aim, the ECB is implementing some measures, including an asset purchase program and a rate policy.
The latest data from the Eurozone indicate that while its economic expansion is becoming increasingly strong and broad, price pressures remain subdued.
Euro area annual inflation was 1.4 percent in December 2017, down from 1.5 percent in November, both of which are below the European Central Bank's target of just under 2 percent.
ECB President Mario Draghi has already declared four inflation criteria the ECB is looking for including; inflation to return to 2 percent over the medium-term, that this convergence durable, self-sustained, and concern the whole of the region.
The ECB started buying government and corporate bonds in its quantitative easing (QE) program in March 2015, starting at a rate of €80 billion per month and then reducing it the following months to €60 billion and €30 billion, respectively.
The bank is likely to focus on the QE program and stress the need to continue such measures at its upcoming Jan. 25 Frankfurt meeting.
The latest ECB policy meeting accounts show that the Bank could update its forward guidance in early 2018, ahead of market expectations.