Europe: ECB – late again

Report Date:  04/12/18

The ECB has a fine line to tread, since its forward guidance is out of kilter with the slowdown in growth and renewed downside pressure on inflation. And that’s before factoring in other risks out there, including trade wars, Brexit and Italy. Monetary policy suddenly looks far from accommodative. A first rate hike before 2020 would now be a surprise.

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