ICYMI, Justin had the summary of the minutes post here:
Check that out. The TL;DR version (brutally short summary) is:
- The ECB turned slightly less dovish
- But not that some members are still arguing for a “wait-and-see” approach
- accelerating tapering was a point of agreement “a large number of members viewed that the current high level of inflation and its persistence called for immediate further steps towards monetary policy normalisation.”
- ECB said it expects QE bond-buying to finish in Q3 of this year
The March meeting background was:
- surging inflation in Europe
- Russia’s invasion of Ukraine jacked-up uncertainty
EUR/USD update:
