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22 May 2015
ECB Minutes: Key takeaways – ING
FXStreet (Barcelona) - Carsten Brzeski of ING, highlights the three key takeaways from the account of the last ECB meeting, noting that the minutes suggest the QE is far from over.
Key Quotes
“there are at least three important take-aways from the ECB minutes:
(1) tapering was not discussed;
(2) the positive economic outlook was conditional on the full implementation of QE; and
(3) the ECB will concentrate on inflation trends, not on single inflation data points.”
“Altogether, there was a strong confirmation of the ECB’s determination to continue with QE, rather than do it half-heartedly. This is something even the last market participants should have subscribed to after this week’s – already now famous – comments from ECB Executive Board Member Benoit Coeure”
Key Quotes
“there are at least three important take-aways from the ECB minutes:
(1) tapering was not discussed;
(2) the positive economic outlook was conditional on the full implementation of QE; and
(3) the ECB will concentrate on inflation trends, not on single inflation data points.”
“Altogether, there was a strong confirmation of the ECB’s determination to continue with QE, rather than do it half-heartedly. This is something even the last market participants should have subscribed to after this week’s – already now famous – comments from ECB Executive Board Member Benoit Coeure”