The European Central Bank (ECB) has confirmed its cautious stance on inflation in its meeting minutes from November 27th. While some officials believe that the era of interest rate cuts may have concluded, as favorable inflation expectations suggest continued stability, the central bank stresses a prudent approach is crucial for achieving long-term success. Instead of reacting to temporary fluctuations, the ECB suggests strategic adjustments should only be made if significant deviations occur from the target in the mid-term horizon. However, the majority acknowledges that uncertainty surrounds the outlook on inflation, and it remains more uncertain than before. The ECB’s message is clear: patience is key as they wait for additional information to guide their future policy decisions.