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Amundi's Mortier sees more dovish ECB than markets expect

BY Reuters | ECONOMIC | 11/19/25 05:32 AM EST

LONDON, Nov 19 (Reuters) - The European Central Bank could prove a lot more dovish in its approach to monetary policy than the market currently expects, Vincent Mortier, chief investment officer at Amundi, said on Wednesday.

Markets currently show traders see little chance of the ECB lowering rates over the coming year. President Christine Lagarde has said several times the central bank is "in a good place" with regards to monetary policy.

Mortier said the company was positive on European duration and held an overweight position across what he called "the full spectrum" of emerging market bonds.

Amundi is Europe's largest asset manager and manages 2.3 billion euros ($2.66 billion). (Reporting by Yoruk Bahceli; Writing by Amanda Cooper; Editing by Alun John)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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