- It is possible for ECB to hike rates before ending bond purchases
- ECB could take hike rates in the summer, then act again at the end of 2022
That's a more hawkish message but it just underscores a lot of mixed communique from the ECB as of late. I don't think we'll get much answers in March so that means every meeting after may be somewhat of a "live" one in terms of understanding when the ECB may or may not act later in the year.
