FRANKFURT, Germany (AP) - An account of the European Central Bank's last meeting shows its policymakers are still concerned that inflation is too low despite an improving economy.
The report of the July 20 meeting, published Thursday, shows the rate-setters also noted that market investors seemed overly aggressive in thinking the bank would wind down its stimulus program soon.
Overall, the account shows caution by the ECB about how quickly to signal to investors that they would ease off their bond-buying stimulus program.
It said "there was broad agreement among members that there was presently a continuing need for steady-handed and persistent monetary policy."
The euro slumped upon the report, as some investors found the comments more cautious about tightening monetary policy. The currency was down 0.6 percent against the dollar, at $1.1693.