ECB minutes: Persistence of uncertainties weighing on the growth outlook

In the minutes of the European Central Bank Governing Council's March meeting, the bank noted that the persistence of uncertainties continued to weigh on the growth outlook. Below are some key takeaways from the publication.

• Incoming data had continued to be weak, in particular in the manufacturing sector.
• Measures of underlying inflation remained muted.
• Market-based measures of longer-term inflation expectations had weakened in recent months.