Current uncertainty likely weighed further on ECB's investment outlook

Regarding the revised macroeconomic outlook, GC members underlined that the role of investment was critical, both for the short-run outlook and in the medium term, as it was an important determinant of potential growth. It was observed that investment had remained very subdued in the wake of the crisis. 

"Current heightened uncertainty possibly weighed further on the investment outlook beyond what was embodied in the September 2015 ECB staff projections, which showed investment picking up in 2015 and 2016, with a small downward revision in 2016", notes Barclays. 

Against this background, an improvement in the conditions for both public and private investment was called for, and support was expressed again in this context for the European Commission's investment plan and the growth-supportive role of a well-functioning public infrastructure.