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22 Oct 2015
ECB building consensus for a move in December– BBH
FXStreet (Córdoba) - According to analysts from Brown Brothers Harriman it looks like the European Central Bank (ECB) is on the way to building the necessary consensus to introduce more stimulus at the next meeting.
Key Quotes:
“While there wasn’t anything truly surprising out of Draghi’s press conference today, his stance was perhaps more dovish than expected and confirmed that the door is wide open for action at the December 3 meeting.”
“As expected, Draghi said QE “can be adjusted in size, composition, duration.” But at least based on his comments today, the emphasis seemed to have been on discussions of a cut in deposit rates. Either way, the comments were unambiguous in suggesting that the ECB has the finger on the trigger.”
Key Quotes:
“While there wasn’t anything truly surprising out of Draghi’s press conference today, his stance was perhaps more dovish than expected and confirmed that the door is wide open for action at the December 3 meeting.”
“As expected, Draghi said QE “can be adjusted in size, composition, duration.” But at least based on his comments today, the emphasis seemed to have been on discussions of a cut in deposit rates. Either way, the comments were unambiguous in suggesting that the ECB has the finger on the trigger.”