What will a 'more hawkish, less market-friendly central banker' mean for European equities?

Europe appears to be in the twilight of the mid-cycle, with economic growth setting at a solid, sustainable pace.

Underpinned by rising earnings momentum, we remain upbeat on the outlook for European equity markets in 2019. Inflation is moving in the right direction, labour markets are tightening modestly and demand for credit is solid. Fears Europe may be caught in the crosswinds of the trade war have faded, allowing the European Central Bank (ECB) to cautiously progress its plans for monetary normalisation.  The ECB reaffirmed its plans to maintain current policy rates at its most recent meeting and, in the near term, we believe firmer wage growth data should remain supportive of the bank's ...