ECB to announce extension of APP at lower pace of EUR30bn/ month - Barclays
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Barclays’ Research Team out with its brief preview on what to expect from the ECB monetary policy meeting due later this Thursday.
Key Quotes:
“At the October ECB meeting, we expect President Draghi to announce a nine-month extension of the APP at a lower pace of EUR30bn per month
We do not expect the ECB to commit to tapering towards zero at the end of the extended programme
We think QE will continue at least until the end of 2018
We expect no change in the forward guidance in the near term
We think the first depo rate hike will occur in 18 Q4”
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