Would the ECB dare to respond? - Natixis

Analysts at Natixis explained that it is naturally thought that if euro-zone inflation were to return to 2% or go above 2%, the ECB would respond swiftly by sharply raising its interest rates. But is this completely certain? 

Key Quotes:

"Would the ECB take responsibility for: 

Jeopardising the fiscal solvency of euro-zone countries other than Germany? - Reducing household income by 2% per 200-basis-point rise in its interest rates? - Reducing corporate earnings by 16% per 200-basis-point rise in its interest rates? 

We believe there is still a slight doubt."