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ECB Action: Just a Question of Time?
The Managing Director of the IMF and the chief economist are making no bones about it. More action by the ECB is inevitable. It is "just a question of timing," says Lagarde and "sooner was better than later", chimed Blanchard, the chief economist. The market is less sanguine. A recent Bloomberg poll found only about 2/3 of the economists surveyed expected the ECB to ease policy in June. The remainder appear roughly divided between those expecting a May move and those who do expect it to stand pat. The Bloomberg survey found more economists expect the ECB to suspended the sterilization of the liquidity generated ... (full story)