Ahead of the European Central Bank's (ECB) April monetary policy meeting, analysts at TD Securities They stated that they expect a simple decision, in which the ECB chooses to maintain its monetary policy.
“As in the last press release, we do not expect major changes to the language of the Governing Council. As such, the press release should continue to reiterate the reactionary role of the Governing Council, and that policymakers will continue to follow a “data-dependent approach to policy formulation.”
“The main question is what the president of the ECB, Christine Lagarde, says at the press conference. As for the signs for June, we do not believe that Lagarde wants to make it clearer that the first cut will probably come in June. At the March press conference, Lagarde came as close as possible to saying that the Council will cut in June without explicitly saying so, and we don't think she feels the need to use stronger language than this. As such, Lagarde will likely reiterate that he wants to see first-quarter wage data before deciding when he will cut.”
Source: Fx Street

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