Premier Miton CIO Neil Birrell said ECB President Lagarde will step down on Feb.
7 next year; the ECB held rates today. Her successor will inherit a market that
broadly expects the ECB may raise rates through next year. The ECB noted energy
prices present upside inflation risk and downside growth risk, creating a
challenging opening policy trade-off that will require precise timing to avoid
lagging or moving prematurely.
