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ECB Staff Macroeconomic projections for the Euro area


After the publication of the new ECB’s macroeconomic projections the end of the ECB’s QE programme and the increase of the deposit facility rate during 2018 seem to be possible. The FED decided to increase its policy rate (to 0,75%-1,00%) in the last conference. We estimate that until the end of 2017 probability is equally allocated to one or two increases (by 25 bps each).