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ECB Policy Minutes: Concerns Over Possible Euro Over-Shoot
In the minutes from July’s ECB policy meeting, there were concerns over possible market over-shooting, especially in the currency markets. There were also comments that favourable financing conditions could not be taken for granted and relied to a great extent on policy. Evidence of divisions was a significant feature with one member remarking that the recovery was becoming more self-sustaining and that consideration should be given to an adjustment of the language. The rhetoric overall continues to suggest that the ECB will be very cautious in removing policy accommodation despite greater optimism surrounding the ... (full story)