Nordea with the note:
There was broad support for the ECB to increase the pace of its bond purchases, but that support may wane, as the economic situation improves. We continue to see moderately higher Euro-area bond yields ahead.
The monetary policy account from the ECB’s March meeting indicated that there were no strong objections to the central bank’s decision to increase the pace of its bond purchases, though there was more discussion on how much the pace should be increased. In this context, it was argued that a more moderate increase in the pace would better reflect the assessment of more balanced risks to the outlook, also in the light of previous decisions when a similar pace had been chosen but economic conditions had been worse.
