ECB: what does a dovish hike mean? - UOB

Analysts at UOB Group explained that over the past week, the market seemed to have a slight change in expectations of the expectations of “dovish taper” by the European Central Bank (ECB). 

Key Quotes:

"This followed comments from various ECB officials that seem to dial back on the dovish expectations. ECB board member Sabine Lautenschlaeger said that ECB should set a clear end date for its asset purchase programme."

"ECB Governing Council member Philip Lane said that ECB could tighten monetary policy more decisively once Eurozone inflation is on a clear path towards its longer term target. While ECB governing council member Ewald Nowotny said that ECB should have signaled a clear end to its bond buys in the last meeting."