Global Weekly: Growth outweighs low inflation

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The ECB has indicated that a less accommodative monetary policy is slowly on its way, as it overlooks low inflation and focuses on growth. Equity markets moved sideways and appear to be waiting for the start of the earnings season in a few weeks.

Equity markets have been lacking direction. We believe investors are struggling to digest recent developments in interest rates, central bank communications, mixed economic data and the Trump presidency. These issues, in combination with the long upward streak of equity markets and rich valuations, appear to have been making investors uneasy. The new addition to the mix this week was a speech by ECB President Mario Draghi.  

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