26 Jul 2013
Flash: Transparent ECB -BAML
FXstreet.com (London) - Laurence Boone, Ralf Preusser and Athanasios Vamvakidis at BofA Merrill Lynch commented on the ECB.
“We do not expect any change in monetary policy at the next ECB meeting. However, persistently weak credit growth, slipping inflation expectations, and the ongoing liquidity drain raise the risk of rate cuts in the coming months.”
“A positive surprise from this meeting could be a decision to publish minutes, which would increase transparency by shedding light on the views of Governing Council Members, whose communication with the public varies widely”.
“We see no impact on rates and only small upside Euro risks from the meeting, with the market impact depending mostly on the tone of the press conference”.
“We do not expect any change in monetary policy at the next ECB meeting. However, persistently weak credit growth, slipping inflation expectations, and the ongoing liquidity drain raise the risk of rate cuts in the coming months.”
“A positive surprise from this meeting could be a decision to publish minutes, which would increase transparency by shedding light on the views of Governing Council Members, whose communication with the public varies widely”.
“We see no impact on rates and only small upside Euro risks from the meeting, with the market impact depending mostly on the tone of the press conference”.