Ever since February’s meeting, this month’s ECB announcement has been widely expected to be a watershed moment for monetary policy. Although there is no chance of any move on key interest rates just yet, updated economic forecasts are likely to show yet another upward revision to the inflation outlook. This would provide additional ammunition for those Governing Council (GC) members who already see the central bank’s stance as too accommodative and might just pave the way for a hike in rates later in the year. Splits over policy have been widening since inflation started to accelerate last year and became even more ... (full story)