ECB NOWOTNY: Should be no idea about ECB being dovish

Market news

6 May 2011

ECB NOWOTNY: Should be no idea about ECB being dovish

Mkts definitely over-interpreted ECB yesterday
Need full info especially about medium-term inflation
Can decide in June on policy w/new fcasts in hand
ECB never pre-commits
Need m-term view on commodities, euro drop
Must see commodities in context of previous rises.

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