ECB: Something for everyone – TD Securities
12.09.2019, 14:24

ECB: Something for everyone – TD Securities

Jacqui Douglas, the chief European macro strategist at TD Securities, says that the ECB disappointed on the headline numbers themselves, with a 10bps rate cut and only €20bn of QE, but exceeded on the forward expectations by effectively shifting to QE infinity which will run until the inflation outlook robustly converges to close to 2%, and almost right up until the point they are ready to hike rates.

  • “Importantly, while there is only €20bn/month in buying, the stock announced, if you are to believe the ECB's and consensus forecasts, implies it could be around €500bn in QE that will be delivered and likely running well into 2021, all depending on the inflation outlook.
  • The word-something is obvious and will likely increase the headline volatility in the coming months as both the hawks and doves can talk up their preferred timing and delivery of this policy and the onus is now on the press conference today for Draghi to reinforce what the collective expectation will be.
  • Still to come in the press conference will be details on how tiering will work, whether they have made changes to the buying limits on QE, and the changes to the macro forecasts which still have scope to turn this initial dovish market interpretation around.”

© 2000-2024. Sva prava zaštićena.

Sajt je vlasništvo kompanije Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

Svi podaci koji se nalaze na sajtu ne predstavljaju osnovu za donošenje investicionih odluka, već su informativnog karaktera.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

Politika sprečavanja pranja novca

Upozorenje o rizicima

Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.

Politika poverenja

Upotreba informacija: U slučaju potpunog ili delimičnog preuzimanja i daljeg korišćenja materijala koji se nalazi na sajtu, potrebno je navesti link odgovarajuće stranice na sajtu kompanije TeleTrade-a kao izvora informacija. Upotreba materijala na internetu mora biti praćena hiper linkom do web stranice teletrade.org. Automatski uvoz materijala i informacija sa stranice je zabranjen.

Ako imate bilo kakvih pitanja, obratite nam se pr@teletrade.global.

Банковни
транcфери
Feedback
Lajv čet E-mail
Povratak na vrh
Izaberi lokaciju / jezik