 Rates will not only have to go to restrictive territory but stay there much longerRisks for economy clearly downward, inflation risks are upwardFiscal policy starting to add to inflation risksThe message from the ECB is quite clear at this point and that could act up as a decent tailwind for the euro in the early parts of next year. But with recession risks abound, itll be interesting to see if the ECB resolve will wane... 