According to the majority of traders polled by Reuters
– Next policy move after April QE reduction is a further cut in QE say 11/17 money market traders
– 4/17 see the ECB reversing that course to expand QE again
I wonder if we could get a rate hike before the end of QE? As we’re negative on the deposit rate it would seem sensible to get that back to zero at least before tapering properly.