The credibility of the ECB hangs in the balance on inflation. Word of the EU

As the ECB meeting on March 7 approaches, concerns are growing in Europe about the central bank's real ability to bring inflation back to the 2% target without impacting economic growth too harshly with high rates for a long time to come.
The concerns were expressed directly by EU lawmakers, with the warning that Eurotwer's credibility is at stake.
In a resolution linked to Christine Lagarde's annual report to the EU Parliament this week, members of the European Chamber voted overwhelmingly for a statement expressing concerns about the trajectory of prices in the Eurozone.
Trust in the ECB is at risk.
Investors now expect rate cuts of just 90 basis points this year with a first move in June, a major change from last month when up to 150 basis points of easing was priced in.
ECB no longer credible? The warning from the EU Parliament The EU Parliament voted on the resolution on the work carried out by the ECB in 2023, highlighting: …
concern about persistently high inflation rates, in particular core inflation rates, and their negative impact on competitiveness, investments, on the creation of jobs and on the purchasing power of consumers, particularly affecting those with fixed or limited incomes…
The risks of inflation not under control are economic uncertainty and an increasingly higher cost of living high for citizens.
For this reason, we read in the document, the "ECB is invited to provide more information on the monitoring and setting of the neutral interest rate".
The lawmakers also called on the ECB to "fundamentally review and improve its models and their role in decision-making in light of the models' poor performance in recent years." In the background there are interest rates still at 4.5% to tame prices which remain above 2%, although slowing down.
High interest rates have weighed on economic growth as investment has declined and construction activity has fallen sharply.
The eurozone is now in its sixth consecutive quarter of essentially stagnant growth.