PIMCO: ECB remains firmly on hold
PIMCO: ECB remains firmly on hold
The ECB remains firmly on hold, and maintains its data-dependent, meeting-by-meeting approach.
‘The ECB remains firmly on hold, and maintains its data-dependent, meeting-by-meeting approach,’ comments Konstantin Veit, Portfolio Manager at PIMCO, today. ‘While interest rates have presumably peaked, the market is pricing an early and quick monetary policy reversal.
We think the risk remains skewed to somewhat later and less aggressive easing than embedded in market expectations for this year. Key areas to watch will be financial conditions, the fiscal stance, profit margins and unit labour costs developments, with a particular focus on wage growth.’
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