(2/2) Jefferies: Beyond being patient,.....>

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.