Post-ECB views - Dr Christophe Balz at.....>

ECB VIEW: Post-ECB views

- Dr Christophe Balz at Commerzbank writes "even the likely end of net purchases

at the end of the year will not be a major event. Draghi will then point out

that the ECB will continue to reinvest maturing bonds for a long time to come,

holding nearly a third of all government bonds which will permanently lower

government bond yields"

- Christel Aranda-Hassel at Mizuho argues "In contrast to January, President

Draghi was more successful when it came to the tweak presented in a dovish

wrapping" and she sees the key point that the ECB is reactive not pro active.

- Phillipe Gudin and Antonio Garcia Pascual at Barclays "the inflation

projection for 2019 was revised down slightly, to our surprise, due to volatile

components"

- Rabobank note "When asked about the timing of the ECB giving guidance on what

will happen in H2, Draghi played his cards close to his chest (giving nothing

away and keeping his options open) by simply saying 'information will follow our

gradual assessment of the convergence of our inflation path to our objective'"