ECB Minutes: Case was made for assessing risks to economic activity as tilted to downside

Below are some of the key highlights from the minutes of the ECB Governing Council Meeting held on Dec12-13, released this Thursday.

   •  The case was made for assessing risks to economic activity as tilted to the downside.
   •  Risk situation was "fragile and fluid" and rotating in an uncertain environment.
   •  Remarked that decline in oil prices and likely fiscal stimulus were upside risks.
   •  Growth forecast cut justifies describing risks as balanced.
   •  Fundamental factors underpinning growth are in place.
   •  The suggestion made to revisit the contribution of TLTRO to monetary policy moving ahead.