BofA Merrill Lynch | Our base case remains: if data stabilises, the ECB will be keen on hiking at the end of this year. But our conviction level is low (and declining) – similar to the ECB’s. The alternative, we argued, would be no hike this year, a long extension of forward guidance beyond market pricing and tiering.
MADRID | By Julia Pastor | The Fed and the ECB launched their unconventional monetary policies starting from different positions as their economies’ financial structures are not the same. Also their forward guidance diverged, but both central banks tried to boost the real economy and were effective. The uncertainties about the future would revisit those similarities and contrasts.