Sounding surprisingly bullish for once
There may be upside risks to the ECB's Q1 & Q2 projections
Sees upside risks only in the very short-term
Longer-term risks are still tilted to the downside
Still sees high political uncertainty
Well that bullishness potion ran out quickly.
- The world economy is doing better but there are still a number of worries
Well and truly back to the glass half empty ;-)
- The time has not come yet to tighten policy
- Eventual policy tightening will need to be done in a cautious way