We are therefore not pre-committing to a particular rate pathThe medium-term economic outlook is uncertainGrowth will be weaker in the short termFurther ahead, the eurozone economic recovery should start to gather steam
The market has been reading the signals from ECB policymakers and data and now sees just an 8% chance of a 50 bps cut.
This article was written by Adam Button at www.forexlive.com.
