Unanimous ECB buoys markets - The ECB left their refinancing, deposit and marginal lending rates unchanged at 0.05%, -0.2% and 0.3% respectively at their...
David Scutt
Scutt Partners
Unanimous ECB buoys markets - The ECB left their refinancing, deposit and marginal lending rates unchanged at 0.05%, -0.2% and 0.3% respectively at their November policy meeting. In his accompanying press conference President Mario Draghi stipulated that 'they will soon start to purchase asset-backed securities' which 'together with the series of targeted longer-term refinancing operations to be conducted until June 2016, will have a sizeable impact on our balance sheet, which is expected to move towards the dimensions it had at the beginning of 2012'. Scuppering rumours of discord amongst the ECB governing council, at least temporarily, Draghi stated that the decision was unanimous amongst all members. Along with noting the divergent policy paths of major central banks, both now and in the future, the news saw the Euro weaken sharply and sent equity markets to fresh session highs. (VIEW LINK)
Never miss an update
Enjoy this wire? Hit the ‘like’ button to let us know.
Stay up to date with my current content by
following me below and you’ll be notified every time I post a wire
David is a Director of Scutt Partners Pty Ltd and has successfully worked in the financial services markets over the past 12 years with both large and smaller banking groups. He has provided strategic financial analysis for currency and interest rate movements and has been an active trader on behalf of his employers.Over the past 5 years David has become a respected financial analyst and has built a strong following on social media with his insights into the domestic and international markets for currencies and interest rates.Web: www.scuttpartners.com.au LinkedIn: https://www.linkedin.com/pub/david-scutt/9/34a/841
David Scutt
Independent Market Strategist
Scutt Partners
David is a Director of Scutt Partners Pty Ltd and has successfully worked in the financial services markets over the past 12 years with both large and smaller banking groups. He has provided strategic financial analysis for currency and interest...
Expertise
No areas of expertise
David Scutt
Independent Market Strategist
Scutt Partners
David is a Director of Scutt Partners Pty Ltd and has successfully worked in the financial services markets over the past 12 years with both large and smaller banking groups. He has provided strategic financial analysis for currency and interest...
Expertise
No areas of expertise
Comments
Comments
Sign In or Join Free to comment