Will ECB Signal More Optimistic Shift on Thursday?

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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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.