At this week’s European Central Bank meeting it is all about slight changes in tone when it comes to their assessment of economic activity. With the French presidential run-off scheduled for May 7, there appears to be little appetite to rock the boat.
Until now the official ECB language has stated “growth risks are tilted to the downside” and policy rates are expected “to remain at present or lower levels for an extended period of time and well past the horizon of the net asset purchases”. While no change is expected to this language, the tone may change a bit to the upside.
There is a growing sense that the ECB is getting more optimistic in their economic assessment.
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