As expected, the ECB left its monetary policy unchanged. However, at the following press conference, Draghi strongly hinted that more accommodation could be provided at the December meeting to respond to external downside risks.
Mr. Draghi did it again ! Amazing what influence this man can have. Even if he says nothing concrete, he moves the global markets. He barely finished his speech, and the stock markets are raised everywhere, in Europe with 2.50% (Stoxx 50) and the United States with 1.50% (S & P500). Everyone expected more QE, […]
We have decided to stay on convictions expressed in our last committee (October 2nd). We think the rally of recent days is due to hot money speculating on the intervention of central banks. The Fed is expected to keep its rates near zero and Mr Draghi should do “something”, but it is not clear what. […]