FXstreet.com (Barcelona) - Nicky Ong, Co-Founder of Traders Corner, believes that the dark clouds of recession gathering over the Eurozone evoke ECB's concern “that unprecedented levels of stimulus to date could potentially manifest itself in higher inflation once the region returns to growth” and consequently the monetary authority will choose against loosening this month.

In the opinion of the analyst the Governing Council “are unwilling to stray too far from any action that will call in to question their commitment to fulfilling their primary mandate of price stability.”