Hugo Dixon is Editor-at-Large, Reuters News. The opinions expressed are his own.
Markets thrive on certainty. Anything that smacks of uncertainty, fence-sitting or indecision will lead to market turbulence, as investors punish those who don’t tell them how it is.
When it decided the time was right to crack down on inflation, the European Central Bank did so without the man who is often regarded as its toughest inflation hawk: Bundesbank chief Axel Weber. The ECB took financial markets by surprise by announcing on Thursday it could raise rates as soon as April -- a decision its policymakers reached without Weber even in the room.