ECB meeting accounts to be scrutinised for tapering hints – RBC CM
|Analysts at RBC Capital Markets note that in his post-meeting press conference, President Draghi was quite adamant that the changes to the EBC’s QE programme announced in December (extending purchases by nine months from March but at a reduced monthly rate) did not represent ‘tapering’ and that the subject was not even discussed by the Governing Council.
Key Quotes
“The meeting accounts will therefore be scrutinised for any indication that December’s package represents the beginning of a gradual reduction of the asset purchase scheme rather than the extension that Draghi emphasised. Also of interest will be any light that the accounts may shed on how the decision to allow the purchase of assets yielding less than the deposit rate ‘to the extent necessary’ will work in practice given that further details have yet to be released.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.