Mumbai, Aug. 27 -- European Central Bank (ECB) released account of the monetary policy meeting of the central bank held in Frankfurt last month. ECB Governing Council members noted that euro area economic activity had continued to grow and remained broadly resilient, notwithstanding the continuing headwinds from the conflict in the Middle East and the associated energy shock, as well as ongoing elevated uncertainty. Incoming high-frequency indicators suggested that the economy remained broadly in line with the June projections. It was considered that the euro area economy was more resilient than had been expected, while the conditions did not appear to be in place for excessive aggregate demand.
Members further opined that recent incoming ...