- It is time to move to end of APP next month or in July
- Current level of inflation is concerning
- Realistic to expect that rates are likely to be in positive territory by early next year
- ECB continuing on a path towards normalisation of policy
For one of the dovish members to come out with such an angle, I think it is rather evident that there has been a perception shift within the ECB. A rate hike in July seems all but a given now. However, despite the many policymakers calling for the end of negative rates, it may yet be a case of one that is too early to call.
