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President Lagarde’s resignation kicks off the official process of finding her replacement. The departure of three board members and recent bond market volatility increase the likelihood that a familiar face may return to the ECB. The market would judge the two frontrunners by their historical policy stance. Knot would be perceived as the more hawkish choice, while De Cos would initially be seen as more dovish.
Marketing communication / Non-Independent Research. This publication is issued by Coöperatieve Rabobank U.A., registered in Amsterdam, and/or any one or more of its affiliates and related bodies corporate (jointly and individually: “Rabobank”). Coöperatieve Rabobank U.A. is authorised and regulated by De Nederlandsche Bank and the Netherlands Authority for the Financial Markets. Read more
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