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Eurozone: ECB minutes show broad support for dovish tapering
The just-released minutes of the ECB’s June meeting show that there was broad agreement within the ECB to prepare the end of QE, while keeping sufficient flexibility. The assessment of both the outlook for growth and inflation showed a remarkable optimism. As for that growth, the ECB remained confident that the “economic expansion was expected to remain solid and broad-based, and to continue at a pace above potential.” However, despite this optimism, the ECB was not blind to disappointing data and trade tensions, stating that downside risks related to global factors had “become increasingly prominent”. As ... (full story)