When a hawk says something is 'entirely possible' it means it's not going to happen
All the conditions for inflation to kick in are in place
Even when we end QE, policy will be extraordinary accommodative
We are slowly but surely moving towards the exit
Asset purchases should only be used to fight the risk of deflation
June might be the month to decide once and for all to gradually end net asset purchases by the end of this year
Nothing new here, although it would be hawkish if the ECB pulled the plug on QE in June.
