To address these risks, the European Central Bank (ECB) implemented additional monetary easing – including the  BIS central bankers’ speeches  1  introduction of a negative interest rate – in June and September 2014, and also showed its commitment to further implement monetary easing measures, if needed, at the Governing Council in November.
As the transitory effects of the earlier fall in oil prices and rise in the dollar fade, PCE inflation can be expected to rise further toward our 2 percent target, supported by higher core PCE inflation, which ran at a 1.7 percent pace in September.