ECB releases the minutes of its April policy meeting
- Optimism regarding global growth had also been the key driver of stock markets
- Sovereign yields and spreads had remained compressed
- Euro exchange rate had appreciated only slightly
- Incoming data also pointed to a continued recovery in global trade
- Short-term indicators pointed to a recovery starting in the second quarter of 2021
- Risks to the euro area growth outlook continued to be on the downside in the near term, but remained more balanced over the medium term
- It was important to highlight that calibrating purchases under PEPP so as to counter the adverse effects of the pandemic on the medium-term inflation outlook
- Full minutes
Nothing that we don't already know from the ECB since the meeting last month. Carry on as you will.
