-
ECB: Ready to do more
Ready to do more and for the time being the PEPP remains the main policy tool. These are the two takeaways from the just-released minutes of the 30 April meeting. Like it or not, the ECB, unfortunately, does not have any secret information, enabling it to see more than all other market participants. Therefore, the Governing Council discussed three different scenarios, of which the mild one was already labelled as “probably too optimistic”, and different drivers of future inflation developments. Our favourite quote from the minutes: “the present situation was characterised by Knightian or “radical” ... (full story)