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3 Jun 2015
No surprises expected today at the ECB meeting – Danske Bank
FXStreet (Edinburgh) - Analysts at Danske Bank see today’s ECB meeting as a repetition of the tone exhibited in previous meetings, without any major announcements.
Key Quote
“We do not expect any new policy measures to be announced on Wednesday and believe that the statement will be broadly unchanged”.
“We expect the ECB to repeat that risks surrounding the economic outlook, while remaining on the downside, have become more balanced and that the outlook for growth and inflation is conditional on the full implementation of all monetary policy measures”.
“Thus any questions in the Q&A session on an early exit from the Public Sector Purchase Programme (PSPP) will continue to be dismissed as premature”.
“Instead, we believe Draghi will continue to signal that the ECB is focusing its efforts on the implementation of PSPP. In that respect, ‘the moderate frontloading for purchase activity in May and June’, as presented in a recent speech by Cœuré, will be in focus”.
Key Quote
“We do not expect any new policy measures to be announced on Wednesday and believe that the statement will be broadly unchanged”.
“We expect the ECB to repeat that risks surrounding the economic outlook, while remaining on the downside, have become more balanced and that the outlook for growth and inflation is conditional on the full implementation of all monetary policy measures”.
“Thus any questions in the Q&A session on an early exit from the Public Sector Purchase Programme (PSPP) will continue to be dismissed as premature”.
“Instead, we believe Draghi will continue to signal that the ECB is focusing its efforts on the implementation of PSPP. In that respect, ‘the moderate frontloading for purchase activity in May and June’, as presented in a recent speech by Cœuré, will be in focus”.