ECB minutes push EUR higher - Rabobank
|Analysts at Rabobank suggest that let’s wait and see how the overall Eurozone economy holds up when and if the ECB do decide to actually do something other than doing slightly less of something that many say they shouldn’t have done in the first place.
Key Quotes
“ECB’s December minutes yesterday showed that “The view was widely shared among members that the Governing Council’s communication would need to evolve gradually, without a change in sequencing, if the economy continued to expand and inflation converged further toward the Governing Council’s aim…The language pertaining to various dimensions of the monetary-policy stance and forward guidance could be revisited early” in 2018. Apparently, that translates from the central-banking dialect of Eurocrat into “rate hikes ahoy!” or so the markets took it, with EUR leaping from 1.1940 to 1.2040and 10-year Bund yields spiking to 0.58%, when they were at 0.43% on the first day of the year.”
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