Decision on the interest rate of the ECB. DO NOT MISS!
Dear traders,
Today, at 14:45 (Kyiv) – the meeting of the Governing Council will take place and the European Central Bank will issue a Decision on the interest rate.
Analysts do not expect significant changes in monetary policy.
The focus will be on press conference of the president of ECB Mario Draghi, which will be held 45 minutes after the announcement of the ECB decisions. Investors expect to receive clues about when and how the ECB begins to wind down its large-scale program of quantitative mitigation.
Market analysts believe that the ECB will announce a reduction since January of monthly repurchase of assets to € 40 billion. At the moment, the ECB monthly buys assets worth € 60 billion. Analysts differed in opinions for how long the program of the financial stimulation will be extended – six or nine months.
Sources that know the discussions of ECB officials before meetings, suggest that it is more likely that the financial stimulation will be extended for nine months. At the same time, the volumes of monthly repurchase of assets will amount to € 25- € 40 billion.
However, the real problem will be whether to announce the completion of the program of quantitative mitigation as required by influential Germany, or leave the question of its next extension open.
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