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Economist Frederik Ducrozet at Pictet......>

ECB VIEW: Economist Frederik Ducrozet at Pictet Asset Management believe that
the "bulk of ECB QE rescaling to fall on sovereign bond purchases, implying a
reduction of PSPP from EUR50bn to EUR22bn in 2018, while CSPP would decline from
EUR7bn to EUR6bn per month, on average."
- In terms of the main drivers for the ECB, Ducrozet writes that "ECB will
remain prudent and highly dependent on inflation data, including (super) core
inflation, wage growth, and (broad) unemployment".
- In terms of the next ECB President, Pictet's money is on Jens Weidmann writing
that "he would make a great ECB President, probably a much more pragmatic one
than many fear." Helene Rey from the London Business School is also seen as a

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