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###(2/2) Jefferies: Beyond being...........>

ECB VIEW: ###(2/2) Jefferies: Beyond being patient, persistent and prudent
Draghi to hold cards close to his chest. Run of soft data likely to be
acknowledged and something that could impact ECB June's forecasts
- Barclays: Do not expect change in ECB's monetary policy stance, and think
statement will probably sound slightly more cautious and balance of risks a bit
less upbeat than in March.
- Deutsche Bank: Expect ECB to retain its confidence in above trend growth
despite recent loss momentum. To repeat ECB being patient, persistent and
prudent. Risk is Draghi errs on the side of caution and timing of QE
announcement slips from June to July.
- Nomura: Very little new information is likely to emerge that could shift
investors expectations about future policy. Policy makers unlikely to read too
much into recent spate of weaker than expected economic data. 
- Soc Gen: Do not expect any changes in policy or communication. Expect decision
in June/July to expend QE until Dec at E15bln per month, then rate hikes June
and Sep 2019, ending the negative deposit rate.

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