• Unanimous expectations look for the ECB to leave its three key rates unchanged
• Not much in the way of fireworks expected given last month’s policy adjustments
• Draghi likely to be mindful of trade tensions and grilled on timing of rate lift-off  

BACKGROUND

PREVIOUS MEETING: Last time around, the ECB announced a reduction in monthly sovereign bond purchases to EUR 15bln/month, through the end of 2018 when it will end (current EUR 30bln/month...

• Unanimous expectations look for the ECB to leave its three key rates unchanged
• Not much in the way of fireworks expected given last month’s policy adjustments
• Draghi likely to be mindful of trade tensions and grilled on timing of rate lift-off  

BACKGROUND

PREVIOUS MEETING: Last time around, the ECB announced a reduction in monthly sovereign bond purchases to EUR 15bln/month, through the end of 2018 when it will end (current EUR 30bln/month...

• Unanimous expectations look for the ECB to leave its three key rates unchanged
• Will the ECB unveil their blueprint for winding down their PSPP or will they ‘kick the can down the road’ to July?
• Questions likely to be raised on the Bank’s view surrounding the latest developments in Italian politics
• Macro projections likely to see oil prices curtail 2018 growth...

Key Events

• Monday: UK Markit/CIPS Construction PMI
• Tuesday: Japanese Services PMI, Caixin Services PMI, RBA Rate Decision, EZ Markit Services and Manufacturing PMI,
• US ISM Non-Manufacturing, UK Markit/CIPS Services PMI
• Wednesday: Australian GDP
• Thursday: EZ GDP (3rd Reading)
• Friday: Japanese GDP, Canadian Jobs Data, G7 meeting in Canada