Report
ECB: dovish tightening
The ECB is set to stop the expansion of its balance sheet at a time when downside risks to activity in the Eurozone are increasing and core inflation remains low (around 1%). At first sight, this is a restrictive signal on the future stance of monetary policy. In reality the ECB is keen to turn the page on QE because there is no longer a serious risk of deflation. At the same time, it intends to maintain an accommodative stance in order not to jeopardise the recovery, a prerequis...
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Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Bruno Cavalier
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