7 Feb 2014
Flash: Not yet clear that ECB will ease in March - BTMU
FXStreet (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ feels that it is not yet clear that the ECB will ease in March.
Key Quotes
"The euro remains modestly higher following yesterday’s ECB monetary policy meeting at which it disappointed market expectations heading into the meeting which had been anticipating further action to ease monetary policy and/or ease liquidity conditions in the Eurosystem.”
“The ECB delivered neither yesterday stating the complexity of the current situation required more information, so in effect potentially only delaying policy action until their next meeting on the 6th March."
"The ECB acknowledged that recent developments in emerging markets have added additional uncertainty posing a potential downside risk to growth. Still it does not yet appear clear cut that the ECB will ease policy further as soon as at their next meeting on the 6th March. As a result it appears likely the euro will continue to trade on a firmer footing in the near-term."
Key Quotes
"The euro remains modestly higher following yesterday’s ECB monetary policy meeting at which it disappointed market expectations heading into the meeting which had been anticipating further action to ease monetary policy and/or ease liquidity conditions in the Eurosystem.”
“The ECB delivered neither yesterday stating the complexity of the current situation required more information, so in effect potentially only delaying policy action until their next meeting on the 6th March."
"The ECB acknowledged that recent developments in emerging markets have added additional uncertainty posing a potential downside risk to growth. Still it does not yet appear clear cut that the ECB will ease policy further as soon as at their next meeting on the 6th March. As a result it appears likely the euro will continue to trade on a firmer footing in the near-term."