THE ECB IS EXPECTED TO KEEP QE UNCHANGED BUT WORK ON MARKET COMMUNICATION |
The ability to communicate clearly with markets by the ECB was questioned after the December 3, 2015 rate statement. At first it was a welcomed surprise how the central bank headed by Mario Draghi had a higher sense of urgency and wanted to act before the end of the year to add more stimulus rather than wait until 2016 as most forecasters had anticipated. The rhetoric by Mario Draghi was enough to drive the EUR lower, but all that was quickly reversed when he delivered less than promised on the December central bank meeting. |
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