Bank of America Global Research discusses its expectations for this week's ECB policy meeting on Thursday.
"No fireworks from the ECB, wait for the June meeting. Good news on NGEU and reopening could lead to policy mistake. We are concerned about a mini taper-tantrum into June given lack of clarity on policy reaction function," BofA adds.
"We see no EUR impact before more clarity on the Strategy Review, which can go either way," BofA adds.