ECB’s move

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The ECB Unlikely To Make A Move Today

The ECB governing board will meet today amidst a climate that doesn’t invite a move of any kind. It goes without saying that the only open option is whether or not to launch a discussion on how to undertake the tapering of its asset buying programme.

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Reasons for the ECB not to make a move

MADRID | By The Corner team |  Neither the recovery of euro zone leading PMI services index, nor the stability of low inflation levels or financial conditions favouring all the region, including peripheral countries, would justify new significant monetary stimulus from the European Central Bank in today’s meeting. Furthermore, there is not a consensus even within the ECB itself. “Just the continuing appreciation of the euro could make the ECB to take action”, Renta 4’s analysts in Madrid said earlier this morning. As regards central bank’s expectations on inflation up to 2016, Draghi will probably confirm they will continue to be firmly anchored in the medium term, even though levels in the short term are very low.