Analysts at UOB Group explained that over the past week, the market seemed to have a slight change in expectations of the expectations of “dovish taper” by the European Central Bank (ECB).
"This followed comments from various ECB officials that seem to dial back on the dovish expectations. ECB board member Sabine Lautenschlaeger said that ECB should set a clear end date for its asset purchase programme."
"ECB Governing Council member Philip Lane said that ECB could tighten monetary policy more decisively once Eurozone inflation is on a clear path towards its longer term target. While ECB governing council member Ewald Nowotny said that ECB should have signaled a clear end to its bond buys in the last meeting."
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