HEZU - The Basis Behind The Forming ECB 'Pause'
These things are all related, not that they are in any way connected by conventional thoughts on the subject of the global economy. Two European officials are now on record hinting at an ECB "pause." There is one already underway in the US, Federal Reserve officials past and present debating how long it might last while markets price probabilities for the first cut.
The situation in Europe is a little different in that pausing means failing to start. In that way, it would be more like the Fed's first pause in 2015 and 2016.