First Hawkish, Then Dovish: Markets Whiplash on ECB Messages

(Bloomberg) -- The European Central Bank seemed hawkish, analysts said on Twitter, until Mario Draghi began speaking. Sounding "as dovish as can be," as one Danske Bank analyst put it, the ECB governor painted a bleak picture of the economy and had economists scurrying to interpret the mixed messages as the euro tumbled.

Here are some of their key takeaways:

Danske Bank’s senior ECB analyst predicted a dovish turn was coming later:

The director of economic think-tank Bruegel clarified some details.

EY Item Club’s chief economic adviser looks at future decisions:

Chief German economist at Oxford Economics sees shades of dovish:

Macroeconomist at Pantheon Macroeconomics casts light on contradictions between the central bank’s communication and Draghi’s words:

Economist at G Plus Economics:

AFS Group analyst:

Alllianz chief economic adviser:

To contact the reporter on this story: Anna Molin in Stockholm at amolin3@bloomberg.net

To contact the editors responsible for this story: Christopher Kingdon at ckingdon@bloomberg.net, Katharina Rosskopf, Paul Gordon

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