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Euro strength will dictate near-term rate cuts, says Krautzberger

The ECB is treading a very 'fine line' between a looser monetary policy and a decision to leave policy unchanged, according to BlackRock's head of euro fixed income.

Commenting in the wake of the ECB’s decision to hold rates at 0.25%, Michael Krautzberger said it would take a sharp currency move to drive a change in rates policy. In this environment, he added, peripheral debt could trade even tighter.

The view on a possible loser monetary policy echoes PIMCO's Andrew Bosomworth, who recently said the ECB was sitting 'on a knife edge', as the euro area recovery is still vulnerable to external shocks.


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