ANZ out with a note in response to the European Central Bank meeting Thursday

This in summary from a detailed note:

  • The ECB is confident in its inflation forecasts
  • expects a "substantial" pick up in core inflation next year
  • Solid growth and rising wages will help underpin price rises
  • The confidence the ECB expressed helped to support the euro, which was also aided by a weaker than expected US CPI
  • The ECB expects QE to end this year
  • reaffirmed its guidance that interest rates are on hold at least through the summer of 2019
  • The core fundamental outlook for the euro area is favourable
  • provides a solid backdrop for the euro

(bolding mine)