• Incoming data has been consistent with projections
• Expects loosening of policy stance but to still stay in restrictive territory

Nothing new there from the ECB for the time being. A June rate cut is all but confirmed but they’re not pre-committing to anything after just yet. It all depends on the data in the next few months. The good news for them is that at least the euro area economy is holding up decently to start the year.

This article was written by Justin Low at www.forexlive.com.