Tag Archives: ECB

Swiss Franc The ECB prolonged its bond purchases, which came unexpected for markets. Consequently the EUR/CHF lost nearly half of its big gains that it registered in the beginning of the week. The ECB expects lower inflation for longer, which makes the life for the SNB harder for longer. EUR/CHF - Euro Swiss Franc, December 08(see more posts on EUR/CHF, ) Source: Investing.com - Click to enlarge GBP/CHF rates...

Summary: Purchases increased for longer but at a lower level; overall, more purchases than anticipated. Euro spiked higher on the announcement, but has subsequently dropped 2 cents. Lower inflation forecast for 2019 shows scope for a further extension. Mario Draghi - Click to enlarge The ECB announced it would extend its asset purchases from April through December next year, but at a modestly slower pace of 60...

Summary: Purchases increased for longer but at a lower level; overall, more purchases than anticipated. Euro spiked higher on the announcement, but has subsequently dropped 2 cents. Lower inflation forecast for 2019 shows scope for a further extension. Mario Draghi - Click to enlarge The ECB announced it would extend its asset purchases from April through December next year, but at a modestly slower pace of 60...

Marc Chandler - Click to enlarge Tired of reading what analysts are saying? Here is a 4.3 minute video clip of my discussion earlier today on Bloomberg TV about the outlook for tomorrow’s ECB meeting. The discussion covers various aspects of the ECB’s decision. There does seem to be a broad consensus, which is always a good news/bad news story. Last December, you may recall there also was a consensus, and although...

Marc Chandler - Click to enlarge Tired of reading what analysts are saying? Here is a 4.3 minute video clip of my discussion earlier today on Bloomberg TV about the outlook for tomorrow’s ECB meeting. The discussion covers various aspects of the ECB’s decision. There does seem to be a broad consensus, which is always a good news/bad news story. Last December, you may recall there also was a consensus, and although...

Summary: ECB will likely extend asset purchases in full. It may modify the rules by which it buys securities. It may adjust the rules of engagement for its securities lending program. The ECB meets tomorrow. The meeting is live in the sense that the central bank is widely expected to take fresh actions, ostensibly backed by new staff forecasts. There are three broad areas that the ECB is expected to address....

Summary: US developments have driven the dollar rally and bond market decline over the past three weeks. Attention shifts to European politics and the ECB meeting. Bank of Canada and the Reserve Bank of Australia meet but are unlikely to change policy. United States There were significant moves in interest rates and currencies last month. The drama was primarily spurred by the solidification of expectations...

Summary: Euro fell to new 20-month lows before steadying. The dollar extended its recovery against the yen. Emerging markets remained under pressure, and Turkey’s central bank surprised with a 50 bp hike in the repo rate. While US markets were closed for the celebration of Thanksgiving, the underlying trends remained intact. Here is a summary of several developments. The euro edged to a new low, a little below...

Remember when bashing central banks and predicting financial collapse as a result of monetary manipulation and intervention was considered “fake news” within the “serious” financial community, disseminated by fringe blogs? Good times. In an interview with Swiss Sonntags Blick titled appropriately enough “A Recession Is Sometimes Necessary“, the former CEO of UBS and Credit Suisse, Oswald Grübel, lashed out by...

Remember when bashing central banks and predicting financial collapse as a result of monetary manipulation and intervention was considered "fake news" within the "serious" financial community, disseminated by fringe blogs? Good times. In an interview with Swiss Sonntags Blick titled appropriately enough "A Recession Is Sometimes Necessary", the former CEO of UBS and Credit Suisse, Oswald Grübel, lashed out by criticizing the growing strength of central banks and their ‘supremacy over the...