- The decision on rate hikes is not needed before June meeting
- Any speculation about calendar of future lift-off is at this stage premature
- We will retain our full optionality about pace of normalization
- Its calendar will remain a gradual, state-dependent and open in moving from one stage to the other
- Keeping net asset purchases open ended from October would not be appropriate
- APP purchases would end in Q3
- another way to enhance optionality could be to remove the word "shortly" from the forward guidance on asset purchases
- Optionality would mean that lift-off could possibly take more time if warranted
Decision on partial troop withdrawal has been taken added some optimism on markets (SP500 +1,58% NDQ +2,58) but we still have questions about inflation and growth
Oil & gold come back to previous levels.