Imagine for a moment you’re a central bank boss here in Europe. Not a great role play right now, if I’m honest, given, well… *gestures at everything going on in the world right now* You have the unenviable task not only of setting policy next week, but also of coming up with a coherent message about what you might do in June. Let's start with the bad news: having kept all your options open in March and intimated you’d have a better grip of the situation by April, the truth is quite the opposite. The better news is that nobody else has a clue where the crisis is headed, either. Another week of contradictory headlines ... (full story)