ECB’s President Draghi during last week`s press conference said that the Bank needs ‘’further information that will come to us between now and June’’ concerning details on the new series of TLTROs. Moreover, he stressed that the ECB would even tolerate a temporary period above target inflation for further support of the EU economy.
The latest Tankan survey showed that the manufacturing outlook has deteriorated. Moreover, the inflation remains behind the expectation of 0.7% with target at 2%. Market’s expected that the BOJ will stick to its monetary policy course.
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