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MNI MARKETS ANALYSIS - Review of ECB Strategy Update

On the whole, sell-side analysts see the ECB's strategy review as broadly inline with a modest set of market expectations, which justifies the muted market reaction Thursday.

Most analysts see the review as having limited impact on near-term ECB policy, but could have a more material effect on the medium-term outlook for the governing council, and could imply a change in sequencing for the roll-off of policy accommodation post-pandemic.

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MNIRevECBStrat.pdf

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