25.04.201722:59:00UTC+00Source: ECB Officials Relieved after First Phase of French Election

European Central Bank officials felt relieved following the first stage of the French presidential election, but they are not seen to shift their policy tone until June.

Sources familiar with the central bank disclosed many policymakers look at transcending a small hint in June towards tapering monetary stimulus, seeing the economy is on track for its best course and the peril of a battle between two eurosceptic contenders in France avoided.

However, there is a minimal desire to alter their commitment to purchase bonds at least until the end of the year and to retain low interest rates until after that.

One of the sources divulged the upcoming meeting will be ditching some easing inclination, but it will based on available economic data.