Monetary policy should continue to keep a steady handUpside risks to inflation are starting to dominateTariffs, services inflation, food inflation and fiscalpolicy are potential drivers of thatTariffs are to have a net inflationary effect towards the supply chainEuro area economic growth is to exceed potentialPassthrough impact from stronger euro is to be limitedThis mostly just reaffirms the communique from last week, in which we saw Lagarde describe the balance of risks as now being more 'balanced' as opposed to previously being 'to the downside'. This article was written by Justin Low at investinglive.com.