Inflation expectations are well anchored.ECB must be more agile when using forward guidance.These are just token remarks and the ECB has been more inclined to give potential scenarios rather than clear forward guidance lately due to uncertainty. The market is fully pricing one last 25 bps cut, possibly in December unless another surge in the euro or more soft inflation reports force them to cut in September. This article was written by Giuseppe Dellamotta at www.forexlive.com.