5 Dec 2013
Flash: ECB unchanged but ready - Rabobank
FXstreet.com (London) - A research team at Rabobank said, “As expected, the ECB has kept all rates unchanged today’.
Key Quotes:
“The basic message in today’s press conference was the ECB is ready and able use all available tools (our “level of preparedness is high”). Draghi also said that there was no need of any further analysis, which suggests that the ECB now has a “360 degree view” on the available options”.
“However, on the big question of what exactly to do next, the ECB President showed himself a master of speaking, but without saying the words that everybody wants to hear”.
“Basically the ECB has all the information but it is unsure of what is the best way forward. Indeed, when we put together Draghis remarks there seems to be considerable resistance in the Governing Council to some of these measures (which does not surprise us)”.
Key Quotes:
“The basic message in today’s press conference was the ECB is ready and able use all available tools (our “level of preparedness is high”). Draghi also said that there was no need of any further analysis, which suggests that the ECB now has a “360 degree view” on the available options”.
“However, on the big question of what exactly to do next, the ECB President showed himself a master of speaking, but without saying the words that everybody wants to hear”.
“Basically the ECB has all the information but it is unsure of what is the best way forward. Indeed, when we put together Draghis remarks there seems to be considerable resistance in the Governing Council to some of these measures (which does not surprise us)”.