Loomis, global macro strategist Jon Levy at Sayles & Company, said in a report that the ECB's June meeting is the real key. At that point, the ECB will have plenty of evidence on how tariffs and trade disruptions affect price settings. Europe's fiscal outlook will also be brighter. This will help make strategic decisions and set guidelines for future actions. The ECB's most important task at this week's meeting is to express its respect for uncertainty and ensure that the market understands its analytical work.

Loomis, global macro strategist Jon Levy at Sayles & Company, said in a report that the ECB's June meeting is the real key. By then, the ECB will have plenty of evidence on how tariffs and trade disruptions affect price settings. Europe's fiscal outlook will also be brighter. This will help make strategic decisions and set guidelines for future actions. The ECB's most important task at this week's meeting is to express its respect for uncertainty and ensure that the market understands its analytical work.