While hopes of further steps to solidify the Eurozone construction are likely to be disappointed on the back of the German election results, the strengthening recovery has removed the sense of urgency in this regard, according to Peter Vanden Houte, Analyst at ING.
“So far political events have not been able to slow the strengthening growth momentum and 2017 is likely to see the strongest growth year in 10 years. As inflation continues to undershoot; the ECB will likely lengthen its QE programme until the end of 2018, though with a much lower level of monthly purchases. The first rate hike is not be expected before 2019.”
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