ECB: Sleepwalking to the QE exit - ING

Sandeep Kanihama FXStreet Contributor

Carsten Brzeski, Chief Economist at ING, notes that the ECB has just announced a reduction of monthly QE purchases and has left forward guidance unchanged.

Key Quotes

“According to the just-released press statement, the ECB decided to reduce the monthly QE purchases to €15 billion, from the current €30 billion, after September 2018.”

“The next and already anticipated step towards bringing QE to a close by the end of the year.”

“The press conference, starting at 2.30pm CET, should add some flavour to the ECB’s decision.”

“We will have a close eye on the latest round of staff projections. However, we doubt that the projections will provide even the smallest argument in favour of deviating from the current autopilot.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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