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30 Jun 2014
ECB meeting this weeks EZ highlight - BBH
FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman explained the euro zone highlight will be the ECB meeting tis week.
Key Quotes:
After significant steps in early June, it is unreasonable to expect anything but a re-articulation of the ECB's message."
"It needs to monitor the impact of the new measures, and the TLTROS scheme is not launched until September. The ECB stands ready to take additional measures if needed."
"Among these measures could be purchasing asset-back securities, but more technical and regulatory work is needed. Inputs into the ECB's decision will be the latest PMI prints, M3 and credit expansion (or contraction, as has been the case, into its third year), retail sales, and the flash June inflation and unemployment report."
Key Quotes:
After significant steps in early June, it is unreasonable to expect anything but a re-articulation of the ECB's message."
"It needs to monitor the impact of the new measures, and the TLTROS scheme is not launched until September. The ECB stands ready to take additional measures if needed."
"Among these measures could be purchasing asset-back securities, but more technical and regulatory work is needed. Inputs into the ECB's decision will be the latest PMI prints, M3 and credit expansion (or contraction, as has been the case, into its third year), retail sales, and the flash June inflation and unemployment report."