ECB, Macro Outlook And Technical Picture Say To Not Invest In Europe Now

June 2 ECB monetary policy meeting did not reserve any big surprise. In line with economists’ expectations, the ECB maintained the deposits rate unchanged at -0.4% and the asset-purchase program at EUR80bn per month.In our view, the main piece of news from the meeting was the lower than expected upward revision of inflation projection for the current year and for 2017 and 2018.

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